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*Scanning all single-stocks subject to 2500 contracts minimum call or put volume

TEVA adds $1.65 to $52.85 and options volume is 3.5X the average daily, being led by a buyer of 8,000 Mar 55 calls at $1.20 on ISE. Sentiment data indicate a customer opened a new position. 11,130 traded. Jan 50, 52.5 and 55 calls are seeing interest as well. The Jan 50 is the most actively traded put. 37,000 calls and 14,000 puts now traded in the pharmaceutical maker and implied volatility is up 24 percent to 25. Shares fell early, but then saw a spike on news the FDA issued a response letter for TEVA’s glatiramer acetate snda. The FDA could not approve app as submitted, but TEVA intends to continue working closely with FDA to determine the next steps to take with respect to the application.

*Scanning all single-stocks subject to 2500 contracts minimum call or put volume

Active trading continues in Sirius Satellite (SIRI). Shares are up 7 cents to $1.67 and today’s options volume includes 38,000 calls and 3,275 puts. The action is scattered across Jan, Feb and Mar 1.5 and 2 calls. Jan12 2 and 3 call options are seeing interest as well. The volume appears to include a fare amount of speculative call buying. Shares are up 30 percent on the week and seemed to get a lift yesterday from news Sirius Satellite will become standard equipment on new BMW bikes (also see yesterday’s 12/22 color on SIRI).

25000 call options have traded in Alcoa (AA), which is 11X typical volume for the first 30 minutes of trading and more than 3X the day’s put volume. Shares have added 36 cents to $15.51 and up for a six consecutive trading day, gaining 11.1 percent during that time. In options action, July 15 calls are the most actives. 5700 traded (99 percent ask). Jan 16, Jan 20, and July 16 calls are seeing interest as well. Jan 14s and 15s are the most actively traded put options. Implied volatility is up 6.5 percent to 32.5. There has been no recent news in the aluminum maker and Dow component. The bullishness might be related to comments to Mad Money show host Jim Cramer. He says AA is his top pick in the Dow and the company might get taken out at $22 per share. Also, Alcoa will unofficially kick off the fourth quarter earnings reporting season when it reports results on January 10 (after market).

*Scanning all single-stocks subject to 2500 contracts minimum call or put volume