Midday Unusual Options Activity Update: CX, FTNT, BZH, XLV, TSL, ETN, SVNT
Implied Volatility Mover
Implied volatility in the options on Cemex (CX) is easing, as the stock ticks higher on light volume of 4.7 million shares. CX is up 20 cents to $5.37 and attempting to rebound from a 28.5 percent month-to-date slide in May. Options flow through midday includes 2,040 puts and 300 calls. June 7 puts, which are now well in-the-money, are the most actives. 1,000 traded and all of the flow has been on the bid, which indicates possible put selling. July 5 puts are also seeing interest and levels of implied volatility is falling 18 percent to 64.5. Put selling and falling implied volatility are possibly signs that some investors believe that shares of the Mexican cement company have reached their lows in the short-term.
Unusual Volume
Fortinet (FTNT) options volume is running 2X the (22-day) average, with 9,840 contracts traded and put volume accounting for 86 percent of the volume.
Beazer Homes (BZH) options volume is 14X the average daily, with 21,000 contracts traded and call volume representing for 50 percent of the activity.
SPDR Healthcare ETF (XLV) options volume is running 4.5X the average daily, with 37,000 contracts traded and call volume accounting for 91 percent of the activity.
Increasing options activity is also being seen in Trina Solar (TSL), Eaton (ETN), and Savient Pharmaceuticals (SVNT).
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