fox4kc.com
Its shares finished at $26.33, down 17 cents, in the regular session Tuesday, and lost 83 cents, or 3.2 percent, to $25.50 in after-hours trading following ...
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hhgregg, Inc. (NYSE: HGG) is seeing activity in the October $15 puts, with shares at $16.80. These have traded more than 4,500 contracts against OI of 46, unusually large action and in multiple sizable lots with more than half the action offer side. Implied volatility is also spiking from 61% to 66%. The chart is looking fairly weak with a potential 20/50 EMA bearish cross. There does not appear to be any upcoming catalysts but potentially Analysts are beginning to feel the company’s expansion initiatives are too much for the current consumer environment, and the company may need to scale back expectations.   The put action is now nearly 100X the average action for a day.
Joe Kunkle, OptionsHawk.com
Osiris Therapeutics, Inc. (NASDAQ: OSIR) is getting clobbered hard as the biggest loser seen so far this morning. The company announced that its stem cell drug Prochymal failed both pivotal phase III studies in patients with graft-versus-host-disease. In short, back to the drawing board and back to drawing cash with stem cell research. This was halted for news at $12.21, but at 8:44 AM EST we have seen a 41% drop to $7.35 in the stock on over 140,000 shares versus a 310,000 share average daily volume. This will be an exponential volume dropper today. On day last week this traded 2.3 million shares and you have to go back to March 27 for another 2 million share day. Our guess is that today’s volume will blow those very active days away by a mile. Osiris does have stock options, and these were VERY active in SEPT-2009 PUTS and pretty active in CALLS on Friday. -JON OGG