EMC Corp. (EMC) has been a topic of discussion on trading desks over the past few days due to the flurry of options activity in the name. For the second day in a row, large blocks of calls are trading in the name.
Shortly after the opening bell, the October $27 call was purchased 9,802 times, on the offer, for $0.83. Volume on the strike has since risen to over 10,300 contracts; open interest is 21,622.
Unlike yesterday?s activity, where huge blocks of LEAP calls were traded against stock, today?s activity has been pure buying. Overall call volume is running at roughly 1.6x normal volume.
Overall implied and historical volatility is registering 29% and 28%, respectively. The Oct $27 calls traded at 28% vol.
EMC Corporation and its subsidiaries develops, delivers and supports the information technology industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services. EMC manages its business in two categories: EMC Information Infrastructure and VMware Virtual Infrastructure.