Seagate Technology (STX) is off 66 cents to $15.46 and 17K calls traded on the storage device maker Thursday. The volume represents 3X the expected and compares to 2,475 puts. A lot of 3050 Nov 16 calls on the ISE for 65 cents is an opening buyer, according to sentiment data. 7,660 contracts now traded. Meanwihle, it looks like sellers are driving most of the volume in Dec 15, Jan10 15, Jan10 16, and Dec 16 call options. Some might be closing and some might be against shares. A block of 200K STX shares traded this morning at $15.71. Meanwhile, implied volatility (average) is up to 48.6, from 45.7 late yesterday, ahead of an Oct 20 (before market) earnings release.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.