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Options Radar: Amazon.com, Inc., Avanir Pharmaceuticals Inc, and Crocs

Reviewing notable options activity on Amazon.com, Inc., Avanir Pharmaceuticals Inc, and Crocs, Inc.

by 8/26/2014 12:14 PM
Stocks quoted in this article:

Three names seeing notable options activity today are online marketplace Amazon.com, Inc. (NASDAQ:AMZN), biotechnology issue Avanir Pharmaceuticals Inc (NASDAQ:AVNR), and footwear maker Crocs, Inc. (NASDAQ:CROX). Here's a look at how today's options traders have been placing their bets on AMZN, AVNR, and CROX.

  • Amazon.com, Inc. is up 2.5% today to trade at $342.38, as Wall Street cheers the company's latest acquisition. In the stock's options pits, calls are crossing the tape at nearly two times the average intraday rate, and amid this accelerated demand, AMZN's 30-day at-the-money (ATM) implied volatility (IV) has shot 7.1% higher to 22.2%. All but one of the most active AMZN options expires at this Friday's close, with buy-to-open activity detected at the weekly 8/29 335-, 337.50-, and 340-strike calls.

  • Avanir Pharmaceuticals Inc (NASDAQ:AVNR) tagged a seven-year peak of $6.24 earlier, but was last seen up 1.7% at $6.16. Today's burst of buying power comes on the heels of the company's announcement of a Phase II trial for AVP-786 -- a potential treatment for neurological and psychiatric disorders -- and option traders think there's more room to run. Specifically, call volume has soared to four times what's typically seen at this point in the day, and bulls are buying to open the out-of-the-money October 8 calls. With 11.2% of AVNR's stock sold short, though, a portion of today's activity could be at the hands of shorts hedging against any additional upside.

  • Crocs, Inc. (NASDAQ:CROX) is also in the green today -- trading 1% higher at $15.96. Option traders are responding in kind, scooping up CROX calls at a rate seven times the intraday average. Short-term contracts are in high demand, as evidenced by the equity's 30-day ATM IV, which has jumped 9.6% to 25.7%. Most active is the equity's September 16 call, which is being bought to open for a volume-weighted average price of $0.35.

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