Midday Unusual Options Activity Update: ILMN, ECA, MU, ALXA, AMLN, SWN
Implied Volatility Mover And Volume Signals For Midday 12/22/2011
Implied Volatility Mover
Illumina (ILMN) implied volatility is moving up amid relative strength in the stock and increasing call volume today. Shares have added $1.84 to $29.01. Options volume on the San Diego-based biotech is 2,660 calls and 215 puts. The action has been in mostly smaller lots and focused on January calls with strike prices ranging from 30 to 35. Jan 34s are the most actives. 719 contracts traded. Meanwhile, implied volatility in the options on Illumina is up 16 percent to 63, as upside call buyers seem to be taking positions in anticipation of additional gains in the share price.
Volume Signals
Encana (ECA) options volume is running 11X the (22-day) average, with 39,000 contracts traded and put activity accounting for 59 percent of the volume.
Micron Technology (MU) options volume is 2.5X the average daily, with 38,000 contracts traded and call volume representing 66 percent of the activity.
Bed, Bath and Beyond (BBBY) options volume is running 10X the average daily, with 26,000 contracts traded and put volume representing 66 percent of the total volume.
Increasing options activity is also being seen in Alexza Pharmaceuticals (ALXA), Amalyin Pharmaceuticals (AMLN), and Southwest Energy (SWN).
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