15,000 calls and 3,225 puts traded in General Mills (GIS) today, which is 3.5X the daily average. The stock ain’t doin much — down 3 cents to $40.64 on volume of 2.1 million shares. Typical volume is about 3.3 million. Meanwhile, the top options trade is a 6950-conttract block of Jul 46 calls for 17 cents when the market was 8 to 18 cents. Looks opening. A 1,000-lot of Jan13 45 calls was marked a buy-write. Beyond that, the flow has been in smaller lots. July 45, Jan13 30 puts, and Jan13 40 calls are among the most actives. Implied volatility is down 1 percent to only 11.5, with no recent headlines on the stock. Earnings expected late-Feb, early-March.
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.