Unusual Options Activity Update: ZNGA, MNKD, GILD, NOV, CAR, AIG
Implied Volatility Mover
Implied volatility in the options on Zynga (ZNGA) continues to move higher amid high levels of options volume in the stock. ZNGA has been on a tear this week after Facebook's IPO plans triggered a flurry of activity in other names in the social media space. ZNGA is among them. The stock is up $1.32 to $13.71 today and has rallied 36.1 percent since a week ago. High options volume has accompanied the move. 52,000 calls and 42,000 puts traded on the San Francisco-based Internet company so far today. Meanwhile, implied volatility in the options on the stock is up 18 percent to 124.5 today and has surged almost 50 percent on the week.
Volume Signals
Zynga (ZNGA) options volume is running 7.5X the (22-day) average, with 92,000 contracts traded and call activity accounting for 55 percent of the volume.
MannKind (MNKD) options volume is 3X the daily average, with 72,000 contracts traded and put volume representing 83 percent of the activity.
Gilead Sciences (GILD) options volume is running 4X the average daily, with 58,000 contracts traded and call volume representing 68 percent of the total volume.
Increasing options activity is also being seen in National Oilwell (NOV), Avis (CAR), and AIG.
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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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