Following up on yesterday morning's "Is General Electric Emerging From a Lengthy Slumber? (GE)", here's some more options action in the big dog.
The stock closed up 3.44% at $17.72.
GE is up 62 cents to $17.75, the best gainer in the Dow, and options volume is 3.5X the average daily after the company announced plans to increase its dividend 17 percent to 14 cents, citing strength in its finance arm. Call volume is approaching 300,000 contacts, comparered to 84,000 puts. The top trade is a block of 9000 Dec 18 calls apparently sold at 14 cents. It might be a closing trade, as open interest is 25,700 and the contract is 25 cents out-of-the-money with five trading days of life remaining after today. Jan 19 calls are the most actives. 52,855 traded. Dec 17, Jan 17.5 and Jan 20 calls are very busy as well. GE implied volatility is up 8 percent to 27, compared to a 52-week high and low of 55 and 23.