IMAX is rallying and calls on the stock are heavily traded today. Shares are up $1.53 to $17.69 on no obvious company news. 6,090 calls and 340 puts now traded in the name. Investors are buying-to-open new positions in Sep 20 calls. The contract has traded 4,057X against 2,116 in open interest. Sep 20 call on IMAX is 31.1 percent OTM with a delta of .33. The market is 70 to 80 cents, compared to a VWAP price of 44.6 cents so far today. Shrares hit an intra-day high of $17.97 and are up 26.4 percent over the past week.
About the Author (Author Profile)
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.