Solutia (SOA), a St. Louis-based specialty chemicals company, adds 69 cents to $22.63 and volume in March 22.5 calls is approaching 3000 contracts. The top trade is a 1500-contract block at 42.5 cents on ISE and an opening buyer, according to ISEE data. Mar 20 and Jun 25 calls are seeing some interest as well. Implied volatility is up 4.5 percent to 46. The stock had suffered a 13.9 percent slide (since 2/18) prior to today and some investors seem to be positioning for a rebound prior to the March expiration later this week. The company reported today no injuries or damage from the earthquake.
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.