A bounce higher Wednesday in equities pushed options volatility lower, although
levels still remain significantly above their 50-day moving average. The CBOE
Market Volatility Index (VIX) was recently down 6.4% to 34.65, continuing –
like stocks – to trade within a range it has stayed for the past month. The
CBOE put/call ratio was recently at 0.95. Here are a few of Wednesday's
notable options movers: STEC Inc. (NASDAQ: STEC ): Its calls are seeing interest
following renewed merger interest. Its Sep 10 calls had volume of 3,260
contracts vs. open interest of 4,750, pushing implied volatility up to 75%.
Shares of STEC were recently up 4.9% to $9.40. Hertz (NYSE: HTZ ): Its Dec 13
calls are catching attention with 4,350 contracts vs. open interest of 13,900.
Implied volatility is up to 75%. The company is expected to report earnings in
early November.
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