Unusual Option Activity - February 23, 2011; Zimmer in Focus
Wednesday, February 23, 2022 10:00 AM

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Bullish Flow:

Zimmer Holdings Inc. (NYSE: ZMH) saw some unusual trading volume. ZMH closed losing 1.73 points, or 2.71 percent to settle at $62 on Tuesday. Zimmer’s trading volume was 15.8 times its average daily volume, with a total of 35,145 calls traded for March, compared to the average call volume of 2,229. On the other hand only 8 put options were traded for March expiration. The stock looks bullish and the rise in the options volume came after Robert W. Baird upgraded the rating on the stock to Outperform from Neutral on February 18, 2011.

Bearish Flow:

SuperValu Inc. (NYSE: SVU) looked bearish after some unusual trading volume was seen Tuesday. The stock closed lower by 0.28 points, or 3.19 percent to $8.50 on Tuesday, while options volume was 8.7 times its average daily volume. The most traded put option was the March 8 put option, with 18,425 puts compared to the average daily volume of 2,172. The put volume represented more than 99 percent of the total option volume.

Index Trading:

The CBOE Volatility Index (.VIX) jumped on Tuesday. The index added 4.37 points or 27 percent to settle at 20.80 reaching levels not seen since early December. Trading in VIX options was brisk, with 312,000 calls and 194,000 puts changing hands on the volatility index. In fact, volume was heavy throughout the index market.

ETF Trading:

US Oil Fund (USO) option volume surged as crude oil (April) rallied $96.25 a barrel mark. USO, an exchange-traded fund that tracks crude through futures contracts, surged $2.13 to $38.49, while the options volume rose to 2.5 times the average daily. 217,000 calls and 87,000 puts exchanged hands in the US Oil Fund.
 

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Market news:

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    • MADISON, Wis. - Rallies were held across the country Saturday to support thousands of protesters holding steady at the Wisconsin Capitol in their fight against Republican-backed legislation aimed at weakening unions.
    • Union supporters organized rallies from New York to Washington state in a show of solidarity as the demonstration in Madison entered its 12th straight day - and attracted its largest crowd of more than about 70,000 people.
    • Hundreds of people banged on drums and screamed into bullhorns inside the Capitol, while the others braved the sub-freezing temperatures and a heavy snowfall for a rally outside.
      • ABC's '20/20' to air interview with Charlie Sheen Feb 26, 2022 08:47 PM

        • NEW YORK - ABC says it will broadcast an interview with Charlie Sheen that was recorded after the incendiary rant that led CBS and Warner Bros. Television to halt production of "Two and a Half Men" for the season.
        • The interview with Sheen will be broadcast during a special one-hour edition of "20/20" at 10 p.m. on Tuesday.
        • Excerpts from the interview will also be aired on "Good Morning America" on Monday and Tuesday.
          • UCLA defeats No. 10 Arizona 71-49 Feb 26, 2022 08:45 PM

            • LOS ANGELES - UCLA struggled all season to put two solid halves together.
            • The Bruins waited until their last game at historic Pauley Pavilion to do it, helped by a last basket that John Wooden surely had an assist.
            • 10 Arizona 71-49 on Saturday to tie the Wildcats for first place in the Pac-10 in the last men's game played in the arena before it closes for renovation.
              • UN council slaps sanctions on Libya's Gadhafi Feb 26, 2022 08:35 PM

                • UNITED NATIONS - The U.N. Security Council has voted unanimously to impose sanctions on Libyan leader Moammar Gadhafi, his five adult children and top associates.
                • Voting after a day of discussions - interrupted at times for consultations with home capitals - council members agreed on Saturday to freeze the assets of Gadhafi, his four sons and one daughter, and to ban travel by the whole family plus 10 close associates.
                • The day was consumed mainly with haggling behind closed doors over language to refer Libya's violent crackdown on protesters to the International Criminal Court for investigation of possible crimes against humanity.
                  • Turmoil rocks Libya's oil sector, slashing output Feb 26, 2022 08:11 PM

                    • BREGA, Libya - The massive oil terminal at Brega feels strangely deserted for Libya's second-largest hydrocarbon complex.
                    • The most activity on the site Saturday appeared to be a squad of boys from the nearby town finishing the job of tearing apart the local headquarters of Moammar Gadhafi's Revolutionary Committee.
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