Implied Volatility Mover
Implied volatility in the options on NetApp (NTAP) is higher, as the stock rallies on increasing volume Thursday. Shares of the storage device-maker are up $2.19 to $38.41 in active trading of 14.5 million shares, even after a filing showed large shareholder Elliott Management reducing their stake in the company. The stock is rallying and options volume in NTAP is 42,000 calls/14,000 puts. June 38 and 40 calls are the most active and 30-day implied volatility in options on the stock jumped 20 percent to 44.5.
Volume Signals
Cisco (CSCO) options volume is running 6.5X the (22-day) average, with 564,000 contracts traded and call volume accounting for 76 percent of the volume.
Micron Tech (MU) options volume is 3.5X, the average daily, with 138,000 contracts traded and call option volume representing 65 percent of the activity.
Walmart (WMT) options volume is running 2X the average daily, with 48,000 contracts traded and put volume accounting 56 percent of the activity.
Increasing options activity is also being seen in Gold (HMY), MannKind (MNKD), and Dryships (DRYS).
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