Implied Volatility Mover
Implied volatility in the options on FedEx (FDX) is easing after the company delivered an upbeat profit report. FDX earned $1.50 per share for the quarter on $11.1 billion in revenues. Analysts were expecting $1.39 per share on $10.82 billion. The stock is up $2.56 to $94.92 in heavy trading of 3.1 million shares. Options volume is running 2.5X the daily average. About 15,000 calls and 8,090 puts traded in FDX. December 92.5 calls and Jan 97.5 calls are the most actives and implied volatility is down 12 percent to 20.5.
Volume Signals
Phillips 66 (PSX) options volume is running 5X the (22-day) average, with 112,000 contracts traded and call volume accounting for 96 percent of the volume.
GM options volume is 4X, the average daily, with 90,000 contracts traded and call volume representing 69 percent of the activity.
BP options volume is running 3X the average daily, with 63,000 contracts traded and call volume accounting for 76 percent of the activity.
Increasing options activity is also being seen in Valero (VLO), FedEx (FDX), and Johnson Controls (JCI).
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