Midday Unusual Options Activity Update: AGO, ORCL, GMCR, UUP, HIG, BBY, BHI
Implied Volatility Mover
Shares of Assured Guaranty (AGO) are under pressure and implied volatility in the options on the Bermudian bond insurance company is moving up after Moody's warned that the company's credit rating is up for review for a possible downgrade. AGO sank $3.10 to $15.72 and options volume on the stock is running 7X the daily average. 10,000 puts and 7,300 calls traded on AGO so far. Meanwhile, levels of implied volatility in the options, which were down near 30 last week, are up 28 percent to 40.5 on the day.
Volume Signals
Oracle (ORCL) options volume is running 2.5X the (22-day) average, with 161,000 contracts traded and call volume accounting for 67 percent of the volume.
Green Mountain Coffee Roasters (GMCR) options volume is 2X the average daily, with 76,000 contracts traded and call volume representing for 67 percent of the activity.
Powershares Bullish Dollar Fund (UUP) options volume is running 5X the average daily, with 75,000 contracts traded and call volume accounting for 99 percent of the activity.
Increasing options activity is also being seen in Hartford (HIG), Best Buy (BBY), and Baker Hughes (BHI).
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