Unusual Options Activity
Select options seeing interest, making upward implied volatility moves on volume today, with little corresponding action in the underlying stock, include: Calls: CVH calls are seeing interest following renewed UNH-for-CVH rumor with ~11x the number of calls trading vs puts (21.2K vs 1.9K). Most notable are the CVH Apr 15 calls (volume: 11.9K, open int: 2520, implied vol: ~101%, prev day implied vol: 75%) -- co is expected to report earnings mid April, possibly falling outside the April expirations cycle; FITB Apr 2.5 calls (volume: 6490, open int: 16.9K, implied vol: ~182%, prev day implied vol: 160%) -- co is expected to report earnings mid April, possibly falling outside the April expirations cycle; BEC Apr 55 calls are seeing interest following takeover chatter (volume: 7090, open int: 240, implied vol: ~51%, prev day implied vol: 36%); WFR calls are also seeing interest following takeover rumor with ~7x the total number of calls trading vs puts (30.2K vs 4.1K). Most notable are the WFR Apr 20 calls (volume: 14.7K, open int: 7580, implied vol: ~88%, prev day implied vol: 73%) -- co is expected to report earnings mid April, possibly falling outside the April expirations cycle; RMBS calls are seeing interest following vague takeover chatter with 20.4K total calls trading vs 1.7K puts. Most notable are the RMBS Apr 12 calls (volume: 8790, open int: 1510, implied vol: ~101%, prev day implied vol: 89%) -- co is expected to report earnings mid April, possibly falling outside the April expirations cycle; AMD Apr 4 calls are seeing interest (volume: 22.5K, open int: 9130, implied vol: ~112%, prev day implied vol: 105%) -- co is expected to report earnings mid April, possibly falling within the April expirations cycle; Ultra Gold ProShares (UGL) Apr 33 calls (volume: 3920, open int: 350, implied vol: ~71%, prev day implied vol: 66%); GRMN calls are seeing interest with ~8x the number of calls trading vs puts (11.7K vs 1.4K). Most notable are the GRMN Apr 15 calls (volume: 7420, open int: 1040, implied vol: ~57%, prev day implied vol: 52%); ITRI Apr 50 calls (volume: 1020, open int: 460, implied vol: ~63%, prev day implied vol: 59%)... Puts: WDR Apr 17.5 puts (volume: 1000, open int: 0, implied vol: ~71%, prev day implied vol: 62%); TSM Apr 10 puts (volume: 1520, open int: 1220, implied vol: ~54%, prev day implied vol: 53%)... CBOE Put/Call ratio: 0.80, VIX: (42.70, -0.23, -0.5%), VXN: (41.88, -0.32, -0.8%).
