Morning Movers: ING Shares Down More Than 12%; RadioShack Shares Up 13%

ING - ING Groep NV - Shares of the Dutch financial services company are hurting this morning - down 12.5% to $15.20 - after announcing plans to raise $11.3 billion in a share issue. ING also intends to divide up its insurance and banking businesses. News of the share issue scheduled for November 25 sent shares lower and investor uncertainty higher. Implied volatility jumped roughly 16% to 66.5% as of 10:00 am (EDT). Investors exchanged 4,100 option contracts on ING within the first half hour of the trading session. The morning’s option volume represents approximately 30% of the stock’s total existing open interest of 13,346 contracts.

RSH - RadioShack Corp. - Consumer electronics retailer, RadioShack, met analyst expectations by posting third-quarter profits of 30 cents per share this morning. Shares of RSH are soaring nearly 13% higher to $17.67 - a new 52-week high - following the earnings announcement. Implied volatility is on the decline, having fallen 24.71% to 41.70%, thus far in the session. Option traders are exchanging RadioShack call options at two times the rate of put options.

BCRX - Biocryst Pharmaceuticals, Inc. - Call options are in high demand on the biotechnology company. Shares are up 13.5% to $10.97 perhaps following Friday night’s news that the U.S. Food and Drug Administration (FDA) issued an emergency use authorization (EUA) for BCRX’s investigational anti-viral drug intravenous peramivir in certain patients admitted to a hospital with either confirmed or suspected H1N1 infection. More than 30,800 option contracts changed hands on the stock by 10:20 am (EDT). Option implied volatility crashed to 88% - a one year low for BCRX - from 106% at the start of the trading day.

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