Morning Movers: Yahoo, SanDisk, SLM

SanDisk Corp. (SNDK) - Option traders are swarming semiconductor company, SanDisk Corp., after the firm’s third-quarter profits of 75 cents per share beat average forecasts by about 49 cents per share. SNDK shares are soaring nearly 9% higher this morning, reaching a new 52-week high of $23.40. Approximately 30,000 contracts changed hands on SanDisk by 10:00 am (EDT) with investors favoring call options over puts by a factor of more than three to one. Implied volatility on the stock retreated following earnings, falling 22.53% thus far to the current reading of 46.61%.

SLM Corp. (SLM) - Shares of the provider of liquidity to the student loan marketplace are on the up-and-up today having risen more than 20.5% to $10.74. Option volume is steadily climbing toward 25,000 contracts. Investors seem to be taking fresh positions in call options which have traded more than three times for each put option in action on the stock.

Yahoo!, Inc. (YHOO) - Implied volatility plummeted 19.92% to 32.92% on YHOO following the firm’s third quarter earnings report. Cost cutting measures helped the internet company post profits of 13 cents per share. The stock jumped 4.5% to $17.95 - a new 52-week high.

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