Thursday July 2, 04:50 PM
STOCKS NEWS US-USEC put interest persists for second day
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Real (Frankfurt: BJU.F - news) -time Equity news
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1130 ET 02July2009
Traders circle USEC (NYSE: USU - news) puts for second day
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Option traders are circling the put options in energy company USEC Inc for the second straight day. Heavy trading on Wednesday, including a
substantial calendar spread involving 47,500 contracts, created new open
interest of more than 51,000 contracts in USU Oct $5 puts, said
WhatsTrading.com option strategist Frederic Ruffy. Shares of the company, which
enriches uranium, slipped 2 cents to $5.32 near midday and another 26,000 puts
traded vs 1,037 calls, double the norm, according to Trade Alert. The same
July/October $5 put spread is seeing interest again and traded 5,000 times,
Ruffy said. The other activity seems to include a mixture of buyers and
sellers. The stock's option implied volatility stood at 121 percent from 118
percent on Wednesday and 110 percent last Friday. McDermott International Inc said on Wednesday that its subsidiary Babcock and Wilcox won a contract
to downblend over 12 metric tons of highly enriched uranium into low enriched
uranium used in nuclear power reactors.
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