Given the that VIX spiked more than 11% higher on Friday, a spike in call volume is not too out of line for options activity.
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Unlike Mother's Day--the busiest Sunday on the phone network, when Verizon (nyse: VZ - news - people ) experiences a 10% to 20% spike in call volume--Father's Day is like any other Sunday.
After a frenzied pickup in call volume and volatility a couple of weeks back on buyout news that ultimately fizzled, options action in department store chain Macy's (nyse: M) also picked up late this week, with a skew to the call side and no sign of a corporate announcement.
Options traders have also gotten in on the act, with GRPN put volume easily outstripping call volume in the early going.
On Wednesday, call volume came in at 177, 758 contracts, versus put volume of 151, 935 contracts.
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In the options pits, put volume has already topped 8, 000 contracts in early action, compared to call volume of roughly 6, 000 contracts.
In other words, call volume has more than doubled put volume ahead of the event.
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In fact, DRYS saw call volume of 5, 568 contracts compared to put volume of only 1, 356 contracts.
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In fact, SBUX saw call volume of more than 21, 000 contracts yesterday, compared to put volume of 13, 601 contracts.
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Call volume is heavy in the December contract, as well.
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You want to see an increase in volume, into what I call a stock growing up.
Not surprisingly, the bumper earnings have brought options bulls out in droves today, with 149, 373 lots traded in the early hours of Friday, skewed to the call side--a staggering 130, 384 increase in volume.
"The closer in you get, there certainly is more call volume into the airlines and into our customer service agents, so the sooner you can try to get rebooked, the better, " she said.
This heavy flow of call volume has left a buildup of open interest in the October series.
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Clorox has been the subject of takeover chatter on several occasions over the years, which in the past tended to drive up the price of the underlying as well as call volume and options implied volatility.
Call volume now averages over 10 million minutes a day, three times the level in August.
Call volume was high, but not overly so, with 462 compared to a daily average in February of 404, she added.
Fresh prints in call and put options cropped up this morning, with investors favoring calls slightly over puts, and overall volume topping 32, 700 contracts in early-afternoon trade.
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Overall, traders are exchanging more than two call options on the drug maker for each single put option in action, out of total daily options volume in excess of 57, 000 contracts thus far today.
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Trading in call options on the retailer is outpacing that of puts roughly 2.5 contracts to one, with overall volume up at 18, 000 lots as of 12:45 PM in New York.
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