Toyota Motor: Puts Gone Wild (TM)

Toyota Motor's (NYSE:TM) next big worry?  Try short interest and increasing put positions, despite how consumers may be reacting to the company, there's the worry of what will Wall Street do?

Toyota is expected to report Q3 EPS after the market close today. Call option volume of 10,509 contracts compares to put volume of 26,337 contracts. February put option implied volatility is at 48, March and April puts are at 42; verses its six-month average of 29, according to Track Data, suggesting larger near term price movement.

Wait until we get the short interest report for next month on Toyota Motor (TM) shares, its going to be ugly.  As of 2:30 PM EST Toyota shares are down 5% and volume has passed the 15 million mark.

The action on the Toyota (TM) $65 and $70 Puts is out-of-control, see for yourself:

Expires Symbol Last Chg Bid Ask Vol Open Int Feb 10 TM100220P00065000 0.40 0.25 0.35 0.40 10,081 790 Mar 10 TM100320P00065000 1.15 0.60 1.05 1.15 2,644 371 Apr 10 TM100417P00065000 1.60 0.65 1.60 1.70 2,135 462 Jul 10 TM100717P00065000 2.85 0.76 2.90 3.00 529 393 Jan 11 ZOX110122P00065000 5.10 1.25 4.80 5.10 628 298 Jan 12 LJY120121P00065000 8.00 1.20 7.40 8.00 16 7

Expires Symbol Last Chg Bid Ask Vol Open Int Feb 10 TM100220P00070000 1.15 0.70 1.20 1.25 15,341 3,668 Mar 10 TM100320P00070000 2.35 1.10 2.35 2.40 3,771 1,131 Apr 10 TM100417P00070000 3.20 1.40 3.10 3.20 3,368 2,050 Jul 10 TM100717P00070000 4.78 1.48 4.50 4.80 917 648 Jan 11 ZOX110122P00070000 7.01 1.41 6.70 7.30 58 470 Jan 12 LJY120121P00070000 10.40 1.90 9.60 10.00 1 111