Yelp is up $1.42 to $19.61 in active trading of 1.2 million shares and trying to stabilize after a two-week 31.3 percent slide. The stock has been volatile lately due to concerns about an Aug 29 lock-up expiration, when insiders who owned prior to the IPO can begin unloading shares. Options on the San Francisco, CA Internet company are actively traded as well and the overall flow seems to reflect expectations that the volatility might continue. Sep 20, 17 and 14 puts are the most actives and the top trade is a sweep of 861 Sep 14s for 65 cents and an opening buyer, according to data from the ISE exchange. 4,700 calls and 8,200 puts traded on Yelp and 30-day ATM vols are up 14.5 percent and elevated at 107.5.
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.