Midday Unusual Options Activity Update: MAKO, COP, DAL, JOY, HTZ, WLP, YELP
Implied Volatility Mover
MAKO Instruments (MAKO) is up $1.35 to $16.90 in active trading of 2.7 million shares. By way of comparison, typical volume on the Ft. Lauderdale, FL medical instruments company through midday is about 740K shares. At the same time, options volume is running 3X the daily average. 9,000 calls and 2,400 puts traded in the name. No news to explain the stock's jump and high volume, but 30-day ATM implied volatility in MAKO options is up 19 percent to 67.
Volume Signals
Conoco Phillips (COP) options volume is running 4.5X the (22-day) average, with 43,000 contracts traded and put volume accounting for 98 percent of the volume.
Delta Airlines (DAL) options volume is 3X, the average daily, with 28,000 contracts traded and call volume representing for 96 percent of the activity.
Joy Global (JOY) options volume is running 6.5X the average daily, with 27,000 contracts traded and call volume accounting for 53 percent of the activity.
Increasing options activity is also being seen in Heinz (HTZ), Wellpoint (WLP), and YELP.
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