Stock Market Movers: SunPower Corp, Assured Guaranty, Sina Corp

SPWRA - SunPower Corp. - Shares of the manufacturer of solar power products are down more than 17% this morning to $22.49 on news the firm may have to correct millions of dollars in accounting mistakes over the past three quarters. Investor uncertainty, as measured by option implied volatility, surged 31.73% to 66.89%. Option traders exchanged more than 19,200 contracts on the stock by 10:10 am (EDT). Fresh put positions were initiated at the November 22.5 and November 20 strike prices.

AGO - Assured Guaranty Ltd. - The insurance company reported better-than-expected third-quarter profits of 44 cents per share, beating average analyst estimates by 13 cents per share. Shares of AGO are trading 21% higher this morning, reaching a new 52-week high of $25.55. Investors exchanging call options at the November 30 and December 30 strike prices are perhaps positioning for continued bullish movement in shares.

SINA - SINA Corp. - The online media company’s shares rose 9% to a new 52-week high of $46.68 this morning. Third-quarter earnings of 34 cents per share bested analyst expectations by 3 pennies per share. Option implied volatility on the stock contracted 17.46% to 40.03% following earnings. More than 8,200 option contracts traded on SINA as of 10:25 am (EDT).

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