Midday Unusual Options Activity Update: TRX, CSCO, GMCR, EBAY, TRX, UAL, MMR
Implied Volatility Movers And Unusual Volume Movers For Midday 11/10/2011
Implied Volatility Movers
Implied volatility in the options on Tanzanian Royalty Exploration (TRX) is substantially higher Thursday. Shares were halted in morning action and are now down $1.18 to $2.24 in heavy trading. Share volume is approaching 15 million, compared to typical volume of about 280,000 shares. Put options volume spiked as well. 34,000 traded. Normal volume through midday is fewer than 150 contracts. Jan 2 puts, which are 24 cents out-of-the-money, are the most actives. 14,700 traded. Meanwhile, heavy volume and the big drop in the underlying stock have implied volatility in TRX options up 68 percent to 177.
Unusual Volume Movers
Cisco (CSCO) options volume is running 2.5X the (22-day) average, with 137,000 contracts traded and call activity accounting for 68 percent of the volume.
Green Mountain Coffee Roasters (GMCR) options volume is 3X the average daily, with 172,000 contracts traded and put volume representing 58 percent of the activity.
EBAY options volume is running 2X the average daily, with 51,000 contracts traded and put volume representing 53 percent of the total volume.
Increasing options activity is also being seen in Tanzanian Royalty Exploration (TRX), United Continental (UAL), and McMoran (MMR).
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About Joseph Cusick
Joseph Cusick currently serves as the Senior Vice President of Education and a Senior Market Analyst for optionsXpress. Mr. Cusick seeks out common sense and technologically scalable educational pathways for self-directed investors of all experience levels. He is largely responsible for ramping up delivery of online and offline seminars to customers and potential clients worldwide. Prior to serving in his current role, Mr. Cusick immersed himself in the broker side of optionsXpress by managing his own book of business. Prior to joining optionsXpress, Mr. Cusick served as a market maker and portfolio manager at the Chicago Board of Options Exchange. Joseph is a graduate of Marquette University and holds his Series 4, 7 and 63 registrations with FINRA.
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