Wednesday’s Options Outlook: ISIL, TPG, BUD, YHOO, ESLR, SOL, DE, AMAT, WFMI

US Market Commentary from Seeking Alpha:

Intersil (ISIL) – Options in Intersil,
the Nasdaq-listed maker of analog semiconductors for cell phones, handheld
devices, and personal computers, are trading at nearly 37 times the normal
level today, with an unusual preponderance of puts despite a 1.6% gain for
shares to $28.41. Shares in the company have gained more than 31% in value
since establishing a convincing 52-week bottom of $20.81 back on January 17. We
would be quick to write off today’s activity as the simple rollover of
put positions designed to protect gains in the stock were it not for the fact
that implied volatility on all Intersil options spiked 23% to 34.5%, its
highest level in nearly a month. Add to this the fact that today’s put
buying appears to involve the establishment of new positions, first at the June
30 strike and again at the July 30 strike, where the $2.75 price tag on the
position requires another 4% drop from current price levels just to break even.

Teekay LNG (TGP) – Implied volatility and call volume are
heating up ahead of after-the-bell earnings from Teekay LNG Partners,
the liquefied natural gas transporter for major energy companies.
Teekay’s earnings come after several days of relative volume gains and
implied volatility movements in VLCC oil transporters. With shares up 5.6% to
$29.87, our market scanners picked up a 119% spike in implied volatility to
46.2% - this up against a historic volatility reading of some 19.8%. With
calls out-trading puts by 40 to 1, the consensus in the option market favors
upside for Teekay, given the degree of fresh buying in May and June 30 calls.
We would note here that the sale of calls at the June 35 strike suggests some
call spreads may be going through as option traders…