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Top 10 list of unusual option activity

By: optionMONSTER
Posted: 6/21/2011 11:34:00 AM
Referenced Stocks: AFFX;BEAV;CAH;SLXP;VMED

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

Virgin Media (VMED): Option volume 1,074 percent above average. Investors bought about 13,000 September 34 calls, mostly for $0.45, against existing open interest. VMED rose 2.52 percent to $30.50.

BE Aerospace (BEAV): Option volume 734 percent above average. An investor sold 1,100 October 35 puts for $1.50 and 1,100 October 40 calls for $2.50, looking for the stock to move sideways. BEAV rose 0.86 percent to $38.75.

Affymetrix (AFFX): Option volume 522 percent above average. Investors sold 2,500 November 7.50 calls for $1.30 against existing open interest, probably taking profits as the shares climb. AFFX rose 4.92 percent to $7.46.

Cardinal Health (CAH): Option volume 446 percent above average. An investor bought about 1,700 July 44 puts for $0.80 and sold a matching number of July 43 puts for $0.40, positioning for potential downside in the shares. CAH rose 0.85 percent to $44.84.

Salix Pharmaceuticals (SLXP): Option volume 427 percent above average. An investor sold 1,000 July 37 calls for $1.50 against exiting open interest. SLXP rose 0.68 percent to $36.94.

Rounding out the rest of the top 10 are:

TM Unusual Activity

(Chart courtesy of tradeMONSTER)