Affemetrix (AFFX) is off 9 cents to $4.62 on very heavy volume of 2.2 million shares (expected is 150K) after the Santa Clara, CA scientific and medical instruments company announced an offering of $105 million in unsecured notes. Options volume on AFFX, which is on average about 125 per contracts per day, is 6,250 contracts already today. 1,850 puts and 4,400 calls so far. July 5 calls, which are now 8.5 percent OTM and expiring in 30 days, are the most actives. 2,760 traded and appears to be opening buying, as 85 percent traded at the ask. Aug 5 and July 5 puts are also seeing interest and 30-day ATM Vols jumped 18 pecent to 86.5.
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.