Implied Volatility Mover
Implied volatility in the options on Dryships (DRYS) is ticking higher following a slide in the shares and amid an increase in options activity today. DRYS is off 14 percent to $1.78 in heavy trading of 10 million shares after posted earnings that fell short of expectations. Meanwhile, options volume is running 3.5X the daily average. 8,130 puts and 3,300 calls so far. June, November, and Dec $2 puts are the most actives in the name and implied volatility is moving up another 8 percent to 69, even as the earnings event risk has passed.
Volume Signals
Williams Companies (WMB) options volume is running 2.5X the (22-day) average, with 73,000 contracts traded and put volume accounting for 91 percent of the volume.
Walmart (WMT) options volume is 3X, the average daily, with 66,000 contracts traded and call volume representing 56 percent of the activity.
DELL options volume is running 2.5X the average daily, with 46,000 contracts traded and call volume accounting for 61 percent of the activity.
Increasing options activity is also being seen in Pulte Group (PHM), AK Steel (AKS), and Dryships (DRYS).
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