Options trading in advance of Thanksgiving is light. This is common as options suffer time decay even when the market is closed. Before holidays, it often makes sense to sell puts in stocks you want to own at lower prices. You receive the benefit of time decay and stock trading volatility can come down as traders are more focused on a day off rather than trading actively. Of course Thanksgiving 2011 was an exception as the market dropped by about 8% during the Thanksgiving week only to bounce right back in the following week.
Forest Oil Corp (FST) is near its lows. Yesterday, 3x the normal volume traded with over 4,000 Dec 8 calls being bought to open. The company reported better than expected earnings on October 29. By December 6, the company will be speaking at Jefferies, Wells Fargo and Capital One energy conferences. They will also present at a Bank of America Merrill Lynch leverage finance conference on Dec 5. In OmniVision Technologies (OVTI), an opening buyer purchased 6,000 Jan 17.5 calls. The stock yesterday broke-out to the upside from a tight trading range and up through resistance. Earnings are scheduled for November 29 after the market close. Nielsen Holdings (NLSN) is a very thinly traded options play. Yesterday, volume was 83x normal with a buyer of 1,000 Jan 22.5 puts.