Unusual Options Activity Update: BBBY, MPC, STX, NTAP, AVP, SVU
Implied Volatility Mover
Implied volatility in the options on Bed, Bath and Beyond (BBBY) is down sharply after the retailer reported upbeat fourth quarter earnings Wednesday afternoon. Shares surged $6.10 to $72.32 and are touching new 52-week highs on heavy volume of 7.1 million. Options on the stock are busy as well. 18,000 calls and 18,000 puts traded on BBBY through midday. Meanwhile, levels of implied volatility have plummeted 29 percent to 22 and back to the lower end of the 52-week range (between 19 and 46).
Volume Signals
Marathon Petroleum (MPC) options volume is running 42X the (22-day) average, with 59,000 contracts traded and put volume accounting for 51 percent of the volume.
Seagate Technology (STX) options volume is 3X the average daily, with 53,000 contracts traded and call volume representing for 70 percent of the activity.
NetApp (NTAP) options volume is running 4X the average daily, with 33,000 contracts traded and call volume accounting for 97 percent of the activity.
Increasing options activity is also being seen in Avon Products (AVP), Supervalu (SVU), and Bed, Bath and Beyond (BBBY).
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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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