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Stocks with unusual volume can often be a good place to look for a trade. By unusual volume I mean stocks that trade significantly more than the average daily volume of shares. This signifies unusual interest in the issue and often indicates that investors have a changing opinion in the stock and may indicate an inflection point that is good for a trade.

Below are five stocks that are showing unusual trading volume today that should be considered for further analysis and a possible trade.

Tellabs, Inc. (TLAB)

Tellabs Inc. has traded over 3 times the average daily volume today. The stock sold off massively in Pre-Market trading where it hit a low of $2.35. Yesterday the stock closed at $3.35 and the stock is currently trading at $3.33. On November 29th, Tellabs announced a special cash dividend of $1.00/share. It appears that there has been some confusion over the ex-dividend date which is actually December 24th but was earlier reported as December 12th. Nasdaq even issued a statement to indicate that the trades would not be reversed. A week ago there was some bearish put buying in the stock. At the last trade of $3.33, the stock is up $0.38 since the $1.00 dividend announcement. In addition to the dividend, Tellabs also announced on November 29th that their acting CEO is now the permanent CEO. Analysts are predicting a slight revenue decline next year to $1.01B from a 2012 estimate of $1.06B. They are expected to be roughly break even in 2013 with EPS of $0.01. Prior to paying the dividend, they have a book value of $4.04 and total cash of $3.11. In the Q3 report, Tellabs announced a restructuring designed to lower its cost of goods sold and to reduce SG&A.

Dolby Laboratories, Inc. (DLB)

Special dividends were also the source of unusual trading volume in Dolby Laboratories, Inc. which so far has traded approximately three times the average daily volume. Dolby announced a one-time special dividend of $4 per share on its Class A and Class B common stock. Dolby's earnings are expected to increase to $2.68/share in fiscal 2013 from $2.61 in fiscal 2012. Dolby has a book value of $16.69/share and $7.76/share in cash.

Greif, Inc. (GEF)

Greif, Inc. is trading approximately four times the average daily volume after Q4 results beat estimates. Greif is a provider of industrial packaging products and services. Greif's EPS is expected to increase by 19.9% to $3.19 in fiscal 2013. They have a book value around $26/share.

Life Time Fitness Inc. (LTM)

Life Time Fitness is trading over twice the average daily volume today. Life Time issued over twenty press releases today announcing their hosing of "Commitment Day Events" in 30 U.S. Cities on January 1st. The Commitment Days will feature a 5K walk/run that will start simultaneously across the nation in the 30 cities. Here is a link to one of those press releases. Life Time is expected to earn $3.17/share in fiscal 2013 which is up from an expected $2.77 in fiscal 2012. They have a book value of $25.66/share and cash of $0.21/share.

Joy Global, Inc. (JOY)

Joy Global is trading over twice the average daily volume after reporting fourth quarter results earlier today. Joy Global reported Q4 EPS of $2.13 ex-items and the consensus estimate was $1.91. Joy expects fiscal 2013 fully diluted EPS to be between $5.90 and $6.50 on revenues of $4.9B to $5.2B. Furthermore, they are planning some cost reductions in fiscal 2013 to take out costs in fiscal 2014. Joy has a book value of roughly $24/share and cash of roughly $2.50/share.

Source: 5 Stocks With Unusual Volume