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Update: Top unusual option activity

Posted
8/22/2011 5:03:00 PM
By: optionMONSTER
Referenced Stocks:BDSI;GFI;KGC;MDVN;ST

As of today's market close, here are the top 10 names showing unusual option activity on tradeMONSTER's LiveAction data system.

Gold Fields (GFI): Option volume 1,329 percent above average. The October 17 calls were bought against open interest and the January 20s were sold, indicating that a covered-call trade was rolled to the higher strike. GFI rose 3.21 percent to $17.38.

Sensata Technologies (ST): Option volume 1,018 percent above average. A block of 2,000 September 30 puts was rolled to the September 25 strike. ST fell 1.60 percent to $28.34.

Medivation (MDVN): Option volume 1,017 percent above average. A block of September 10 calls was bought for $6.80. MDVN rose 0.45 percent to $15.62.

BioDelivery Systems (BDSI): Option volume 836 percent above average. More than 2,500 October 2.50 calls were purchased, mostly for $1.15 as an investor positioned for upside in the stock. BDSI rose 8.71 percent to $3.37.

Kinross Gold (KGC): Option volume 731 percent above average. The November 19 calls were bought and the February 21s were sold, resulting either from the rolling of a covered call or a bullish diagonal spread. KGC rose 5.12 percent to $17.65.

Rounding out the rest of the top 10 are:

closing volumes

(Chart courtesy of tradeMONSTER)