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Implied Volatility Mover
Implied volatility in the options on Gamestop (GME) is higher, as shares of the video game retailer drop Wednesday. The stock is down $1.69 to $25.11 on heavy turnover of 7.5 million shares on reports Microsoft’s new XBOX counsel will require an Internet connection and may not permit the use of gaming discs. GME options volume is 4.5X the daily average. 15,000 calls and 10,000 puts traded on the stock so far and implied volatility is moving up 22.5 percent to 44.
Volume Signals
iShares EAFE Fund (EFA) options volume is running 6X the (22-day) average, with 109,000 contracts traded and put volume accounting for 57 percent of the volume.
Zynga (ZNGA) options volume is 3.5X, the average daily, with 119,000 contracts traded and call volume representing 88 percent of the activity.
US Airways (LCC) options volume is running 2.5X the average daily, with 51,000 contracts traded and call volume accounting for 97 percent of the activity.
Increasing options activity is also being seen in UAL, Genworth (GNW), and Disney (DIS).
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