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Update: Top unusual option activity

By: optionMONSTER
Posted: 7/28/2011 5:32:00 PM
Referenced Stocks: ACOM;AVT;CLWR;MILL;NTGR

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

Miller Energy (MILL): Option volume 3,818 percent above average. More than 3,000 August 5 puts were sold for $0.10 to $0.85, although volume was below open interest. MILL plunged 23 percent to $5.40.

Avnet (AVT): Option volume 2,736 percent above average. An investor sold about 5,000 August 29 calls for $0.85, anticipating little upside in the stock. AVT rose 4.19 percent to $29.31.

Netgear (NTGR): Option volume 1,493 percent above average. More than 2,000 August 35 calls were sold for $3.30 against no existing open interest. NTGR rose 0.63 percent to $36.61. (ACOM): Option volume 1,471 percent above average. Investors bought the September 40 puts, while selling the September 35 puts and the September 45 calls, positioning for potential downside ahead of earnings. ACOM fell 3.04 percent to $40.18.

Clearwire (CLWR): Option volume 1,460 percent above average. More than 13,000 December 1 puts were purchased for $0.16 and $0.17 as traders looked for more downside. CLWR plunged 22 percent to $2.15.

Rounding out the rest of the top 10 are:

Unusual Activity

(Chart courtesy of tradeMONSTER)