Implied Volatility Mover
Implied volatility in the options on Apple Computer (AAPL) is moving higher amid heavy trading in the short-term options on the stock. Shares are down $18 to $511.69 and came within striking distance of the November lows of $505.75 this morning after dipping to $507.66. Options on the stock are seeing brisk trading. 435,000 calls and 342,000 puts so far. Weekly puts and calls, which expire after today, with strikes ranging from 500 to 530 are seeing heavy trading. Meanwhile, implied volatility in Apple options, as measured by VXAPL Index, is up 3.21 points to 43 and has rallied 32.1 percent month-to-date.


Volume Signals
Qualcomm (QCOM) options volume is running 4X the (22-day) average, with 97,000 contracts traded and put volume accounting for 53 percent of the volume.

Best Buy (BBY) options volume is 2.5X, the average daily, with 91,000 contracts traded and call volume representing 63 percent of the activity.

Schlumberger (SLB) options volume is running 3X the average daily, with 54,000 contracts traded and call volume accounting for 58 percent of the activity.

Increasing options activity is also being seen in Lockheed Martin (LMT), Adobe (ADBE), and Micron Technology (MU).



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