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

Human Genome Sciences (HGSI) is flat at $26.17 and 6,280 Mar 22 puts traded so far. 81 percent trading at the ask and open interest is 468. Implied volatility is up 4 percent to 81.5. Some investors might be hedging shares after a 9.6 percent gain in HGSI since 1/28 ahead of an FDA decision regarding the company’s pivotal Benlysta Lupus drug. It was postponed from late-December to March. Relatively high vols in March (98 percent) seems to reflect expectations for a decision prior to the March expiration.

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

Nabor’s (NBR), which saw heavy trading Tuesday ahead of earnings (see 2/15 color – Premium), is trading up 69 cents to $27.43 and has now added 5.7 percent since the results were released. Options order flow is bullish again today. Mar 27s are the most actives. 6,665 traded and, with 73 percent trading at the Ask and open interest of 2,525, it looks like buyers are dominating the action and opening new positions. Jun 29 and 31 calls are apparently being bought-to-open as well. Implied volatility is up 5 percent to 39.

China Agritech (CAGC) saw a big spike in implied volatility, as shares sank 19.2 percent and touched new 52-week lows Wednesday. 15,000 puts and 5,760 calls traded in the name. Implied volatility surged nearly 70 percent to a new 52-week high of roughly 154. The stock has been under pressure in recent weeks amid negative newsletter and brokerage commentary. On Feb 10, the company responded to an LM Research report, saying “management confirms that the Company’s factories are fully operational and revenuews which have been reported in accordance with US GAAP and audited by independent accountants are accurate.” Investors seem to have their doubts as the stock, which is up 24 cents to $7.68 early Thursday, has plummeted 41.8 percent since January 6.

AMD continues its run higher. Shares are up 44 cents to $9.05 and its best levels of the day. The top options trade is a block of 10000 February 8 calls at 79 cents and probably a liquidating trade ahead of the expiration. 13,540 now traded. A block of 6,500 Jan 7.5 puts traded on the 81-cent bid and might also be a closing trade. Meanwhile, 5,000-contract block of Mar 9 calls at 48 cents on the ISE is an opening buyer, according to ISEE data. 13,135 traded. Feb 9, Mar 10, and April 10 calls are seeing interest as well. Total volume is 56,000 calls and 13,000 puts. Overall flow in AMD has been bullish lately amid relative strength in shares of the chipmaker. The company reported earnings on 1/20 and, although shares dipped in the days that followed, AMD is up 12.8 percent since that time. Implied volatility has eased 2 percent to 48.5 on the session.

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

DELL rallies $1.77 to $15.68 after the computer maker reported a quarterly profit of 53 cents per share, which blew past analyst estimates of 37 cents. Options volume is heavy. 200000 calls and 104000 puts traded so far. The top trade is a Jan 12.5 – 17.5 strangle sold at $1.45, 12500X on AMEX. Implied volatility is down 23 percent to 30, compared to a 52-week high and low of 54 and 25.5.