Waste Management (WM) $35.09 -1.60%
Waste Management (WM) is down 57 cents to $35.09 and 6680 calls traded on the bank ahead of earnings, Thursday before market. The volume represents 4X the typical volume and compares to 480 puts. It includes a buyer of 2,500 Jan2012 40 calls at $2.20 in morning trading and a buyer of 2,500 January 2012 40 calls at $2.10 in more recent action. The call purchases might close an existing position, as open interest is 10.6K and the second largest position in the name. Implied volatility in WM is up about 5 percent, but remains low at 21.5.
Category: All Stocks, Industrial Goods & Services, Large Cap Stocks
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About the Author (Author Profile)
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.
