4. Zynga (ZNGA). Volatility increased 11% for a bearish put with a callable price of $2.50. Zynga shares traded above $3.50 after reporting quarterly earnings. It appears unlikely Zynga will drop to $2.50 by next month. The company continues to reduce its reliance on Facebook (FB). Real-money gambling titles will be available in the U.K.
To focus on profitable titles, Zynga shut down 11 game titles late-last year. They were also on the top Facebook game list in December 2012 for five of the titles, including FarmVille 2, Texas HoldEm Poker, and ChefVille.
5. Talisman Energy (TLM). Call options with an exercise price of $30 saw volatility increase nearly 11% for March and July expiries. The energy exploration company reported productions that averaged 426,000 boe per day in Q4. Cash flow dropped to $675M, or $0.66 per share. This is down from $0.81 per share last year. Written by Kapitall contributor Chris Lau. Disclosure: Author has a long position on Alcatel-Lucent.