TD Ameritrade's JJ Kinahan On Paychex Options Trading

Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan said that Put options on Paychex, Inc.

were trading at 11 times the average volume on Tuesday. The April $49 Puts saw increased selling along with increased buying of the June $45 Puts. Implied volatility was at its 77th percentile and historical volatility was at the 74th percentile, according to Kinahan, who noted that the volatility was elevated. Paychex reports Q3 results Wednesday before the market open and recently traded at $51.38, up 0.23 percent. Kevin Riley and Brianna Valleskey contributed to this report.