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Option Clips: AIG, U.S. Steel Corporation, and Juniper Networks, Inc.

Reviewing notable options activity on American International Group Inc, United States Steel Corporation, and Juniper Networks, Inc.

by 12/30/2013 1:17 PM
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Three equities drawing attention from options traders today are insurance issue American International Group Inc (NYSE:AIG), commodity concern United States Steel Corporation (NYSE:X), and tech stock Juniper Networks, Inc. (NYSE:JNPR). Here's a look at how traders have been aligning their speculative bets today.

  • American International Group Inc (NYSE:AIG) has seen a rush of put activity in its options pits today, with the contracts trading at a 49% mark-up to the average intraday rate. Short-term traders scooping up the weekly 1/3 50-strike puts are calling for the stock to breach the round-number $50 mark by Friday's close. The majority of the 1,535 contracts traded here have gone off at the ask price, implied volatility is on the rise, and volume outstrips open interest, pointing to buy-to-open activity. At last check, AIG was lingering near $51.17, or 2.3% above the aforementioned strike price.

  • Put volume has also ramped up on United States Steel Corporation (NYSE:X), despite the stock hitting a new annual high of $30.47 earlier. The most active position thus far is the February 2014 30-strike put, which saw a large lot of 10,750 contracts trade earlier that Trade-Alert indicated was bought to open. With X trading at $29.52, these puts are currently in the money. However, in order for the speculator to profit, the stock must slide below breakeven at $28.25 (strike less the $1.75 premium paid).

  • Juniper Networks, Inc. (NYSE:JNPR) is up 1.4% to $22.53 today, and one speculator is betting on additional upside in the near term. Around 11:15 a.m. ET, one block of 7,323 weekly 1/10 23-strike calls changed hands near the ask price for $0.43 apiece. Implied volatility ticked higher at the transaction, and volume outstrips open interest, pointing to the initiation of new bullish positions. Delta for the call is docked at 0.38, suggesting a 38% chance of an in-the-money finish.


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