Midday Unusual Options Activity Update: LXK, ADSK, RHT, HNZ, PVH, CDNS
Implied Volatility Mover
Lexmark (LXK) is up $2.63 to $21.64 in active trading of 6 million shares and options on the computer component-maker are busy as well. 6,720 calls and 3,780 puts so far, which is 5.5X the daily average for LXK. September 22 calls and 20 puts are the most actives and 30-day implied volatility is up 16 percent to 44.5. The increased activity comes after the company today announced a restructuring and an increase to its share buyback program.
Volume Signals
Autodesk (ADSK) options volume is running 2.5X the (22-day) average, with 12,000 contracts traded and call volume accounting for 75 percent of the volume.
Lexmark (LXK) options volume is 5X, the average daily, with 9,700 contracts traded and call volume representing for 66 percent of the activity.
Redhat (RHT) options volume is running 2.5X the average daily, with 4,700 contracts traded and put volume accounting for 94 percent of the activity.
Increasing options activity is also being seen in Heinz (HNZ), PVH, and Cadence Design Systems (CDNS).
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