TIVO saw a spike to $10.29 and was recently up 60 cents to $9.10 after the SEC granted a requested confidential treatment with respect to two exhibits in its 10-Q filing, which seems to have raised hopes for a settlement with DirectTV (DTV), according to Fly on the Wall. Shares rallied and about 26K calls traded in the name, which is 12X the typical volume and compares to 720 puts. Sep 9, 10, and 11 call options are the most actives, with some players apparently hoping for additional upside in TIVO before the expiration at the end of this week. Implied volatility is up about 21 percent to 73.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.