Some less frequently traded stocks made the most-active list yesterday.
- JCP – Almost 400k puts traded, with implied vol exploding higher (30 day atm vol above 90) after Goldman’s report that recommended buying CDS. The Nov 8 puts and Jan14 5 puts were the most active, with mostly buyers initiating to open.
- IRM – The Oct 40 and Oct 45 calls traded 29k at 0.10 and 0.05 respectively. Looks like closing out a call spread at 0.05 that was traded back in May.
- MAKO – The Jan14 30 calls traded over 25k at an average price of $0.147, as implied vol was crushed after the Stryker deal was announced. Risk arbitrage players likely active on that line.
- LEA – Unusually large volume in the LEA Dec 65 puts. Looks like a seller to open at 0.975 on 30k. The stock last traded below 65 in July.
- AMAT – Stock was higher for the second straight day after the Tokyo Electron deal. The Oct 18 calls traded over 15k, mostly buyer initiated.