Nokia (NOK) adds 13 cents to $1.93 in active trading of 33 million shares and is moving to session highs. Options volume is a relatively light, 7,870 calls and 5,190 puts, or a little more than half the expected. But, July and Aug 2 calls are the most actives and 30-day ATM vols touched new 52-week highs of almost 100 this morning, before easing back to 97. Players might be anticipating a rebound in the stock after a five-day 13 percent losing skid. Nokia has plummeted 65 percent since March.
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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.