Stock Market Movers: Autodesk, Bunge Limited, SLM Corp

BG - Bunge Limited - Call activity on the global agribusiness and food company is likely inspired by the 2.5% increase in shares to $60.36 today. Investors traded call options in excess of existing open interest at a number of strike prices across several contracts. The now in-the-money November 60 strike had 3,750 calls exchanged, whereas the higher December 65 strike had 3,100 calls traded as of 10:10 am (EDT). Finally, volume at the January 70 strike exceeded 4,000 calls on previous open interest of 3,069 lots.

ADSK - Autodesk, Inc. - Shares of the software company are trading 10% lower this morning to $24.22 despite reporting third-quarter earnings of 27 cents per share, which exceeded analyst expectations by 4 pennies. Share price erosion today likely stems from lower-than-expected fourth-quarter profit guidance from the firm. Option implied volatility slumped 15.32% today to 37.56% following earnings. Investors exchanged more than 13,100 option contracts on Autodesk as of 10:20 am (EDT), which comprises about 15% of total existing open interest on the stock of 91,493 lots.

SLM - SLM Corp. - Shares of student loan provider, Sallie Mae, are up more than 6% to $11.41 one hour into the trading session. Some investors may be banking gains at the November 11 strike where 7,200 calls traded to the bid at 50 cents on previous open interest of 14,490 lots at that strike. Fresh positions were transacted at the December 14 strike where call volume currently stands at 1,000 contracts. Option implied volatility is slightly higher at 62.59% over the day’s opening reading of 60.21%.

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