JDS Uniphase (JDSU) slips 4 cents to $11.68 on light volume of 450K shares. By way of comparison, typical volume on the stock in the first 30 min is about 825K shares. Yet, options action is picking up in the Milpitas, CA communication equipment-maker. The flow includes a 3,666-lot of Oct 13 calls for 39 cents on CBOE. A buyer initiated the trade, to open. 8,460 now traded against 153 in open interest and 30-day ATM implied volatility is up 5 percent to 43.
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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.