Implied Volatility Mover
Qualcomm (QCOM) is a bright spot and implied volatility in the options on the chipmaker is easing today after the company reported earnings and revenues that exceeded Street expectations. The stock is up $3.81 to $61.93 in active trading of 17.5 million shares. In options action, 53,000 calls and 33,000 puts traded on the stock. November 60 calls are the most actives and might be seeing some liquidating activity, as the contract is now in-the-money and expiring at the end of next week. 7,460 contracts traded against 28,628 in open interest. Meanwhile, implied volatility in QCOM options has dropped 36 percent to 23.5.
Volume Signals
US Bancorp (USB) options volume is running 4X the (22-day) average, with 63,000 contracts traded and put volume accounting for 86 percent of the volume.
Whiting Petroleum (WLL) options volume is 7X, the average daily, with 23,000 contracts traded and call volume representing 84 percent of the activity.
Nektar Therapeutics (NKTR) options volume is running 5X the average daily, with 11,000 contracts traded and call volume accounting for 99 percent of the activity.
Increasing options activity is also being seen in International Game Technology (IGT), Viacom B (VIAB), and Mako Instruments (MAKO).
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