VERY BULLISH CLOSE (about time), Also NEWS on high option activity on BIDS:
Friday March 3, 2:45 pm Eastern Time
U.S. Options -Bid.com vols stay high, volume firms
CHICAGO, March 3 (Reuters) - Implied volatility stayed high on Friday in options on Internet auctioneer Bid.com International (NasdaqNM:BIDS - news) (Toronto:BII.TO - news) Inc. while volume started to pick up, especially in calls.
Implied vols for the March 5s stood at around 178 percent, while the March 7.5s hovered near 197 percent. Both strikes showed calls better-bid than puts.
``They're (implied volatilities) around 200,' said Dan Koutris, designated primary market maker with KFT DPM at the Chicago Board Options Exchange. ``They're up 40 or 50 points.'
The stock's one-month historical volatility stood at roughly 91 percent after Thursday's trade.
Koutris said options volume by late morning on Friday had picked up but was not extraordinary.
``I would say it's (volume) slightly above average,' he said. ``There has been a lot of call buying this morning.'
At 11:02 a.m. CST (1702 GMT), roughly 2,020 calls and 295 puts had changed hands on the four U.S. options exchanges combined.
The March 7.5 calls, which edged up 3/16 to 11/16, had combined volume of around 1,070 contracts on open interest of 3,515.
Shares of the Canadian-based firm firmed 5/8 to 6-5/8 on Nasdaq market volume of 2.1 million.
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