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Top 10 list of unusual option activity

David Russell (david.russell@optionmonster.com)

Nearing the halfway mark in today's session, here are the top 10 names showing unusual option activity on tradeMONSTER's LiveAction data system.

Orexigen Therapeutics (NasdaqGM:OREX): Option volume 2,363 percent above average. Investors bought and sold calls and puts as the stock ripped higher. OREX rose 50 percent to $2.21.

James River Coal (NasdaqGS:JRCC): Option volume 1,288 percent above average. Investors are buying the October 8 calls and the November 9 calls, looking for a rebound. JRCC fell 6.29 percent to $8.49.

Odyssey Marine (NasdaqCM:OMEX): Option volume 1,226 percent above average. An investor sold 3,500 March 2.50 puts for $0.70 and bought an equal number of October 2.50 puts for $0.25, looking for the stock to hold its ground. OMEX fell 1.85 percent to $3.18.

Boise (NYSE:BZ): Option volume 841 percent above average. A block of 10,000 December 6.60 calls were sold for $0.90, a bet that upside is limited over the next three months. BZ fell 2.30 percent to $6.38.

Manitowoc (NYSE:MTW): Option volume 759 percent above average. About 15,000 December 12 calls were sold for $0.20 against open interest and an equal number of March 10 calls were bought for $1. The trader seems to be moving a position to a later expiration, keeping hope that the stock will rebound. MTW fell 1.34 percent to $8.07.

Rounding out the rest of the top 10:

  • Goodrich (NYSE:GR): Option volume 616 percent above average.
  • MagicJack VocalTec (NasdaqGM:CALL): Option volume 423 percent above average.
  • Denbury Resources (NYSE:DNR): Option volume 416 percent above average.
  • Range Resources (NYSE:RRC): Option volume 381 percent above average.
  • Duke Energy (NYSE:DUK): Option volume 367 percent above average.
Unusual Activity

(Chart courtesy of tradeMONSTER )