About halfway through today's session, here are the top 10 names showing unusual option activity on tradeMONSTER's data systems.
Health Management Associates (HMA): Option volume 3,255 percent above average. An investor sold 11,000 contracts each in the August 11 puts for $0.90 and the August 11 calls for $0.45. Known as a short straddle, it reflects a belief that the hospital stock will remain in a range through expiration. HMA is down 1.93 percent to $10.67.
Gen Probe (GPRO): Option volume 1,861 percent above average. The maker of medical-diagnostic tests saw heavy call activity, with a mix of buying and selling, after a report that Novartis is now its only potential suitor. GPRO fell 13 percent to $71.35.
Life Technology (LIFE): Option volume 824 percent above average. Investors sold 5,000 June 50 puts in the life-sciences company for $0.40 to $0.75, betting it will hold its ground over the next two weeks. LIFE rose 1.31 percent to $50.99.
Imperial Sugar (IPSU): Option volume 768 percent above average. Investors bought 1,400 July 20 puts for $0.70, positioning for downside in the sugar company. IPSU rose 0.51 percent to $21.64.
Exelixis (EXEL): Option volume 720 percent above average. Investors sold 2,000 August 10 puts for $1.425 and separately bought 1,000 July 11 calls for $0.45, reflecting a belief the drug developer will bounce. EXEL is down 15 percent to $9.29.
Rounding out the rest of the top 10 are:
- Aluminum Corp. of China (ACH): Option volume 680 percent above average.
- Minas Buenaventura (BVN): Option volume 635 percent above average.
- LinkedIn (LNKD): Option volume 600 percent above average.
- Regal Entertainment (RGC): Option volume 595 percent above average.
- United Therapeutics (UTHR): Option volume 560 percent above average.
(Chart courtesy of tradeMONSTER)
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