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Top 10 list of unusual option activity

By: optionMONSTER
Posted: 7/21/2011 12:24:00 PM
Referenced Stocks: ABC;AZN;OC;RRGB;TZOO

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

Owens Corning (OC): Option volume 1,204 percent above average. An investor sold 10,000 August 33 puts for $0.40 and bought an equal number of August 38 calls for $0.45, positioning for upside. OC rose 1.12 percent to $36.

Travelzoo (TZOO): Option volume 1,084 percent above average. There was a heavy mix of activity after the online media stock reported weak results, mostly skewed to put buying and call selling. TZOO plunged 31 percent to $58.90.

AmerisourceBergen (ABC): Option volume 1,046 percent above average. Investors sold the August 39 calls and the August 38 puts, looking for the stock to hold its ground. ABC fell 6.61 percent to $38.98.

AstraZeneca (AZN): Option volume 909 percent above average. Investors bought the August 50 calls for $1.15 to $1.20 and the September 50 calls for $1.35. AZN rose 2.10 percent to $50.49.

Red Robin Gourmet Burgers (RRGB): Option volume 901 percent above average. Investors bought more than 1,000 August 35 calls for $3.90 to $5.10. RRGB rose 3.84 percent to $38.90.

Rounding out the rest of the top 10 are:

TM Unusual Activity

(Chart courtesy of tradeMONSTER)