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Update: Top unusual option activity

By: optionMONSTER
Posted: 9/26/2011 5:00:00 PM
Referenced Stocks: BKE;BWA;MELA;NG;VSH

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

KBW Bank Index (BKX): Option volume 1,622 percent above average. A block of 9,000 November 41 calls traded for $0.60 and $0.65. BKX rose 5.29 percent to $36.85.

NovaGold (NG): Option volume 1,395 percent above average. Investors bought about 50,000 January 7.50 calls for $0.85 to $0.90. NG rose 6.74 percent to $7.28.

MELA Sciences (MELA): Option volume 1,285 percent above average. Investors bought and sold calls and puts as the stock ripped higher. MELA rose 55 percent to $4.93.

Buckle (BKE): Option volume 1,169 percent above average. An investor bought the December 40 puts and sold the December 37.50 puts, looking for downside. BKE rose 4.94 percent to $39.50.

BorgWarner (BWA): Option volume 1,058 percent above average. An investor sold the October 50 puts and bought the October 70 calls, looking for upside. BWA fell 1.24 percent to $59.15.

Rounding out the top 10 are:

Unusual Activity

(Chart courtesy of tradeMONSTER )