Midday Unusual Options Activity Update: DNDN, GMCR, DHI, MCD, ELN, AIG
Implied Volatility Mover
Dendreon (DNDN) is down and implied volatility in the options on the Seattle, WA biotech is moving higher today after a study supported the use of J&J's Zytiga for wider use as a prostate cancer drug. Concerns about competition from the treatment sent DNDN down 91 cents to $9.96 through midday. Meanwhile, options volume in DNDN is running 2X the daily average. 28,000 calls and 36,000 puts traded in the name and levels of implied volatility in the options on the stock jumped 27 percent to 84.
Volume Signals
Green Mountain Coffee Roasters (GMCR) options volume is running 3.5X the (22-day) average, with 87,000 contracts traded and put activity accounting for 58 percent of the volume.
DR Horton (DHI) options volume is 28X the daily average, with 86,000 contracts traded and put volume representing 92 percent of the activity.
Dendreon (DNDN) options volume is running 2X the average daily, with 61,000 contracts traded and put volume representing 58 percent of the total volume.
Increasing options activity is also being seen in McDonald's (MCD), Elan (ELN), and AIG.
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