RB Trader Sees Unusual Option Activity MWE

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Seeing some unusual option activity in MarkWest Energy Partners (NYSE: MWE), with 5.376 of the January 62.50 calls trading on the offer, versus Open Interest of only 13. Implied Volatility has spiked as well, with the IV jumping from 36.70 yesterday to nearly 42 today. The stock is up only 0.09 presently, while the at -the money January 62.50 calls have shot up nearly 0.40, going from 2.30 to 2.75 on yesterday's close to 2.70 to 3.00 presently. With critical technical support at the 60.50 level, the trader may be positioning for a bounce, especially given the stock was trading above 75 less than 3 weeks ago.

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