Implied Volatility Mover
Implied volatility in the options on Elan (ELN) is moving higher amid increased call activity. The stock is up 15 cents to $10.38 in very active trading of 11 million shares and has now rallied nearly 11 percent since falling to 52-week lows on earnings news last week. On the options front, 14,000 calls and only 80 puts traded on ELN today. July 11, July 12, and Mar 11 calls are the most actives and 30-day implied volatility in the options on the stock rose by 15 percent to 29.5.
Volume Signals
Michael Kors (KORS) options volume is running 3.5X the (22-day) average, with 82,000 contracts traded and call volume accounting for 51 percent of the volume.
Avon Products (AVP) options volume is 2X, the average daily, with 23,000 contracts traded and call volume representing 85 percent of the activity.
HCA options volume is running 5.5X the average daily, with 22,000 contracts traded and put volume accounting for 76 percent of the activity.
Increasing options activity is also being seen in AOL, Fossil (FOSL), and United Technologies (UTX).
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