Qihoo 360 Technology (QIHU) is down 46 cents to $19.01 and implied volatility in the options on the Chinese Internet company is higher amid increasing levels of put activity on the stock. 5,645 puts and 1,495 calls traded in the name so far. The action has been in smaller sizes and includes a multi-exchange sweep of 463 Nov 17.5 puts at the 70-cent asking price and a separate sweep of 400 Dec 17.5 puts at the $1.80 asking price. Dec 17.5s are the most actives, with 2,030 trraded. Nov 15 puts are seeing interest as well. Implied volatility is up 16 percent to 116.5 on a negative Citron Research note about the company. Pre-earnings jitters might be a factor as well. The company is due to report tomorrow afternoon.
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.