Implied Volatility Mover
Implied volatility in the options on Penn National Gaming (PENN) is moving higher along with the underlying stock price. PENN surged $10.88 to $48.49 in heavy trading of 7.4 million shares and new 52-week highs on reports the company is splitting its operating business and real estate holdings. Options volume is running 3X the daily average. 2,900 calls and 1,234 puts so far. November 50 calls and 49 puts are the most actives in the name. Meanwhile, implied volatility in PENN options is moving up 13 percent to 28.
Volume Signals
Cheniere Energy (LNG) options volume is running 12.5X the (22-day) average, with 79,000 contracts traded and call volume accounting for 51 percent of the volume.
DELL options volume is 3X, the average daily, with 74,000 contracts traded and call volume representing 52 percent of the activity.
MGM options volume is running 3.5X the average daily, with 61,000 contracts traded and call volume accounting for 92 percent of the activity.
Increasing options activity is also being seen in SINA, Sears Holdings (SHLD), and Dryships (DRYS).
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