Midday Unusual Options Activity Update: IAG, IAM, DIS, JCP, STLD, SWN, DJX
Implied Volatility Mover And Volume Signals For Midday 1/4/2012
Implied Volatility Mover
IAM Gold (IAG) implied volatility is up amid heavy trading in calls on the gold miner today. Shares have added 12 cents to $16.63 and options volume surged to 30X the daily average levels. 56,000 calls and 3,085 puts traded on the stock so far. The volume is heavily concentrated in February 17 calls. 51,580 contracts traded against just 185 contracts in open interest. The surge in activity is apparently the result of a newsletter mention (but that has not been confirmed). For whatever reason, volume soared and implied volatility in IAG options is also up 21 percent to 53.
Volume Signals
Iamgold (IAM) options volume is running 30X the (22-day) average, with 57,000 contracts traded and call activity accounting for 95 percent of the volume.
Disney (DIS) options volume is 2.5X the average daily, with 35,000 contracts traded and call volume representing 70 percent of the activity.
JC Penney (JCP) options volume is running 2X the average daily, with 16,000 contracts traded and put volume representing 82 percent of the total volume.
Increasing options activity s also being seen in Steel Dynamics (STLD), Southwest Energy (SWN), and the Dow Jones Industrial Index (DJX).
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