Implied Volatility Mover
Implied volatility in the options on JC Penney (JCP) is moving higher, as shares of the retailer set new 52-week lows Tuesday. The stock is down another $1.52 to $15.22, new 52-week lows, on reports Vornado Realty Trust (VNO) is selling a 10 million share block of JC Penney common stock. JCP dropped on the news and options on the stock are busy again Tuesday. 34,000 calls and 81,000 puts so far. Apr 16, Mar 17, and Mar 15 puts are the most actives and 30-day implied volatility is up 8 percent to 69.
Volume Signals
CREE options volume is running 5X the (22-day) average, with 58,000 contracts traded and put volume accounting for 62 percent of the volume.
MGIC (MTG) options volume is 2.5X, the average daily, with 24,000 contracts traded and call volume representing 71 percent of the activity.
Genworth (GNW) options volume is running 3X the average daily, with 36,000 contracts traded and call volume accounting for 86 percent of the activity.
Increasing options activity is also being seen in Southwest Energy (SWN), Juniper Networks (JNPR), and the SPDR Consumer Staples Fund (XLP).
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