AK Steel (NYSE: AKS), a flat-rolled carbon, stainless and electrical steel producer, is recently up $1.40 to $50.04. AKS is expected to report EPS on 10/23. AKS call option volume of 18,037 contracts compares to put volume of 14,916 contracts. AKS October 50 straddle is priced at $2.85. AKS November option implied volatility of 63 is above its 26-week average of 52 according to Track Data, indicating traders positioning themselves for a larger share price movement.
Intuitive Surgical (NASDAQ: ISRG), develops, manufactures and markets robotic technologies designed to improve patient returns. ISRG is expected to report EPS after the close on 10/18. CIBC says, "We feel the current valuation is reflecting expectations for another blowout in 3Q." ISRG call option volume of 6,005 contracts compares to put volume of 6,620 contracts. ISRG October 250 straddle is priced at $31. ISRG November option implied volatility of 71 is above its 26-week average of 49 according to Track Data, suggesting traders are positioning themselves for large price risk.
Daily options update is provided by Stock Specialist Paul Foster of theflyonthewall.com.