Virgin Media (VMED) adds 43 cents to $27.02 and options volume includes 5,000 put and 1,000 calls. The top trade is a multi-exchange sweep of 2,500 Feb 26 puts at 55 cents and an opening buyer, according to ISEE data. Feb 30 and Mar 26 puts are seeing interest as well. Implied volatility is up 3 percent to 31, even amid a three-day 6.4 percent gain in the share price. The increased put activity might be a play on full year and fourth quarter earnings, due out next Thursday.
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.