Implied Volatility Mover
Implied volatility in the options on Tesla (TSLA) is moving higher, as updated earnings guidance triggered a big move on the stock today. The stock is up $6.75 to $44.64 in heavy trading of 9 million shares. Meanwhile, 34,000 calls and 19,000 puts traded in the name. April 40, April 45 and May 50 calls are the most actives. Some short sellers are possibly buying calls on TSLA to help hedge positions, as short interest (as percent of float) in Tesla shares was 65 percent as of March 15. Meanwhile, 30-day implied volatility in the options on the electric car-maker is moving up 18 percent to 53.5.
Volume Signals
MetroPCS (PCS) options volume is running 3X the (22-day) average, with 53,000 contracts traded and call volume accounting for 62 percent of the volume.
Tesla (TSLA) options volume is 3.5X, the average daily, with 44,000 contracts traded and call option volume representing 66 percent of the activity.
Blackstone (BX) options volume is running 2.5X the average daily, with 32,000 contracts traded and call volume accounting for 98 percent of the activity.
Increasing options activity is also being seen in Gamestop (GME), International Paper (IP), and ONEOK (OKE).
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