Implied Volatility Mover
Questcor Pharmaceuticals (QCOR) dropped $10.13 to $20 per share on heavy volume of more than 20 million shares after the company revealed a US government investigation into the company. The stock is falling to new 52-week lows and options volume is picking up as well. Roughly 30,000 calls and 20,000 puts traded in QCOR so far. October 40, 23 and 13 call options are the most actives and implied volatility jumped 22.5 percent, now elevated at 140.
Volume Signals
Met Life (MET) options volume is running 16.5X the (22-day) average, with 320,000 contracts traded and call volume accounting for 67 percent of the volume.
Williams Companies (WMB) options volume is 5.5X, the average daily, with 86,000 contracts traded and call volume representing for 99 percent of the activity.
MEMC (WFR) options volume is running 17X the average daily, with 53,000 contracts traded and call volume accounting for 70 percent of the activity.
Increasing options activity is also being seen in P&G (PG), TIVO, and SPDR Utilities (XLU).
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