Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 681.43

+0.2%

4:00 PM EST

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From: Dr. Stoxx	12/8/2005 3:36:47 PM
	of 39683

15:33 APOL Apollo Group options activity (68.43 -2.23) -Update- APOL is now down 3.2%, near session lows, and the Dec 65 puts are seeing interest driving implied volatility higher. These out-of-the-money (-.24 delta) puts have traded 4460 contracts vs open interest of 2630, driving implied volatility up around 4 points to ~57%. This activity suggests heightened expectations for volatility over the next week, potentially focused on the downside. While it is not uncommon to see put buying on a downside move, the short-term nature of this trading (Dec expiration is 12/16) and significant volume are worth noting.

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