Implied Volatility Mover
Implied volatility in the options on Qihoo 360 Technology (QIHU) is easing today after the company’s CEO said he expects his company to capture 15-20 percent of China’s PC search engine market share. The stock had suffered a six-week 18.4 percent slide prior today, but is up $1.43 to $22 through midday. On the options front, 5,300 calls and 700 puts traded on the Chinese Internet company. November 22 and 23 calls are the most actives, and implied volatility in QIHU options is falling 11.5 percent to 47.7.
Volume Signals
JC Penney (JCP) options volume is running 2.5X the (22-day) average, with 91,000 contracts traded and put volume accounting for 90 percent of the volume.
Barrick Gold (ABX) options volume is 3X, the average daily, with 68,000 contracts traded and call volume representing for 55 percent of the activity.
Applied Materials (AMAT) options volume is running 9X the average daily, with 37,000 contracts traded and call volume accounting for 99 percent of the activity.
Increasing options activity is also being seen in Western Union (WU), KB Homes (KBH), and Cirrus Logic (CRUS).
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