Top 10 list of unusual option activity

By David Russell,

Shutterstock photo

Nearing the halfway mark in today's session, here are the top 10 names showing unusual option activity on tradeMONSTER's LiveAction data system.

Orexigen Therapeutics (OREX): Option volume 2,363 percent above average. Investors bought and sold calls and puts as the stock ripped higher. OREX rose 50 percent to $2.21.

James River Coal (JRCC): Option volume 1,288 percent above average. Investors are buying the October 8 calls and the November 9 calls, looking for a rebound. JRCC fell 6.29 percent to $8.49.

Odyssey Marine (OMEX): Option volume 1,226 percent above average. An investor sold 3,500 March 2.50 puts for $0.70 and bought an equal number of October 2.50 puts for $0.25, looking for the stock to hold its ground. OMEX fell 1.85 percent to $3.18.

Boise (BZ): Option volume 841 percent above average. A block of 10,000 December 6.60 calls were sold for $0.90, a bet that upside is limited over the next three months. BZ fell 2.30 percent to $6.38.

Manitowoc (MTW): Option volume 759 percent above average. About 15,000 December 12 calls were sold for $0.20 against open interest and an equal number of March 10 calls were bought for $1. The trader seems to be moving a position to a later expiration, keeping hope that the stock will rebound. MTW fell 1.34 percent to $8.07.

Rounding out the rest of the top 10:

  • Goodrich (GR): Option volume 616 percent above average.
  • MagicJack VocalTec (CALL): Option volume 423 percent above average.
  • Denbury Resources (DNR): Option volume 416 percent above average.
  • Range Resources (RRC): Option volume 381 percent above average.
  • Duke Energy (DUK): Option volume 367 percent above average.

Unusual Activity

(Chart courtesy of tradeMONSTER )

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.

This article appears in: Investing Options
Referenced Stocks: BZ , JRCC , MTW , OMEX , OREX

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