Monday’s OptionsPlace: Avnet Calls Catch Fire

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With equities now up more than 8% from lows touched last week, options volatility continues to slide. The CBOE Market Volatility Index (VIX) was recently off nearly 6% to 34.24 on Monday – keep in mind the VIX surged above 47 exactly a week ago.

However, levels remain elevated from the index’s 50-day moving average of 22.45.

The put/call ratio was recently at 0.99, below its 50-day moving average of 1.05.

Here are a few notable options movers on Monday:

Avnet (NYSE:AVT): The company’s Aug 29 calls were catching attention, with 3,020 contracts trading vs. open interest of 5,170. Implied volatility has been pushed up about 5 points to 47%. The company posted earnings late last week, and its stock has risen 8.2% in the past five days to $28.36.

Linn Energy (NASDAQ:LINE) Its Sep 37 puts have 1,240 contracts vs. open interest of 570, boosting implied volatility up 3 points to about 37%. The company reported earnings on July 28 and has fallen nearly 4% since then to $38.18.

Mylan (NYSE:MYL) Its Sep 27 puts are active, pushing implied volatility down around 3 points to 45%. The stock was recently up 1.4% to $19.51.

MEMC Electronic Materials (NYSE:WFR): The company’s Sep 7 puts have 1,490 contracts trading vs. open interest of 400, lowering implied volatility around 5 points to 62%. The stock was recently 4.1% higher to $6.80.

 


Article printed from InvestorPlace Media, https://investorplace.com/2011/08/mondays-optionsplace-avnet-calls-catch-fire/.

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