Shares of Verisign (VRSN) are trading higher on the session by 2.24 to $36.37. The stock is up from $32.80 on Friday.
The VRSN Jan 36 calls traded 5200 contracts in scattered lots as traders bought up calls this morning.? Traders looks like they are bidding up the volatility by buying calls into the strong uptrend in VRSN.? Dec IV is up 9% and Jan IV is up 12% on the 36 strike from active option buying with the IV of both strikes coming in at 34% and 33.89% respectively.
30-day implied volatility is down from last week?s near term high of over 80%.?? 10-day implied volatility is near 70% on very volatile near term trade.? The new call positions would profit if VRSN filled the gap from last week just above $40 level.
Verisign is an internet solution provider.