Midday Unusual Options Activity Update - LO, EWJ, TIN, UPS, BBY, JDSU, S
Implied Volatility Movers
Lorillard (LO) shares are down and implied volatility for a second day. Shares sank Monday on news a court has ruled to allow a tobacco racketeering lawsuit to proceed. LO is down another $2.30 to $97.60 Tuesday and off 9.4 percent on the week. Options volume includes 8,410 puts and 7,610 calls. Implied volatility jumped 5 percent to 56.
Unusual Volume
iShares Japan Fund (EWJ) options volume is running 2.5X the (22-day) average, with 44,000 contracts traded and call volume accounting for about 95 percent of trades.
Temple Inland (TIN) options volume is 34X the average daily, with 37,000 contracts traded and put volume representing for 51 percent of the activity.
UPS options volume is running 3X the average daily, with 36,000 contracts traded and call volume accounting for 65 percent of the activity.
Increasing options activity is also being seen in Best Buy (BBY), JDS Uniphase (JDSU) and Sprint (S).
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