Midday Unusual Options Activity Update: GT, AMAT, LULU, TIF, SWN, REE, JNPR
Implied Volatility Mover
Implied volatility in Goodyear Tire (GT) options is moving higher after the company warned that nice weather across parts of the country this winter is hurting tire sales. The stock sank midday after the comments were made at an industry conference and are down $1.46 to $13.82. Options volume on the stock is running 6.5X the daily average. 9,700 calls and 21,000 puts traded in Goodyear so far. The big move in the underlying and the high options volume have conspired to lift implied volatility in GT option up 28 percent to 52.
Volume Signals
Applied Materials (AMAT) options volume is running 11X the (22-day) average, with 84,000 contracts traded and call activity accounting for 93 percent of the volume.
Luluman Athletica (LULU) options volume is 4X the average daily, with 51,000 contracts traded and call volume representing 63 percent of the activity.
Tiffany (TIF) options volume is running 8.5X the average daily, with 38,000 contracts traded and put volume representing 58 percent of the total volume.
Increasing options activity is also being seen in Southwest Energy (SWN), Rare Earth (REE), and Juniper Networks (JNPR).
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