XL Group (XL) volatility increases on earthquake in Japan

XL Group (NYSE: XL), a provider of global reinsurance coverage, is recently down 15c to $22.08. April 20 puts have traded 270 times on contract volume of 11,637 contracts, above its open interest of 541 contracts. April put option implied volatility of 37 is above its six-month average of 33 according to Track Data, suggesting larger price movement.

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