At $69.50, a SEG round lot is $6,950. Today 7.6M shares exchanged hands representing its highest trading day YTD. 5,072 trades with an average size of 1,489 shares per trade or $103,485.50 per trade
U.S. Options - Seagate vols, volume up with stock
CHICAGO, March 13 (Reuters) - Implied volatility and volume rose on Monday in options on Seagate Technology Inc. (NYSE:SEG - news) as the stock continued making new highs.
Implied vols for the April 70s rose to roughly 106 percent, up from the high-60 to low-70-percent area seen on Friday.
``The April 70s I have at 107, 105 (percent),' said Paul Foster, investment strategist, 1010wallstreet.com. ``I have them going out at 68, 73 on Friday.'
He said implied vols over the last three months have ranged from about 54 percent to 70 percent.
Volume also swelled on Monday in options on the California-based disk-drive maker, and near the close roughly 12,800 calls and 13,675 puts had changed hands on the three U.S. options exchanges combined.
That compared to average turnover during the last couple months of around 5,500 contracts, Foster noted. On Friday, roughly 18,000 contracts total traded, and last Monday some 23,000 contracts were exchanged.
Busiest were the April 50 puts, which firmed 1/4 to 1-13/16 on combined volume of roughly 4,125 and open interest of 4,446. In the April 65 calls, which were unchanged at 11-1/8, interexchange volume was about 2,135 on 586 in open interest.
The recent rise in Seagate shares accelerated on Monday as the stock hit another new 52-week high, this at 72-1/2, before paring gains.
The stock closed up 4-1/2 at 68-3/4 on New York Stock Exchange volume of 6.4 million.
``It just keeps going (up),' said Foster of Seagate stock, which closed at 46 on Jan. 3 and whose rise helped underpin options volatility. ``Also, the disk drive market has firmed.'
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