Research In Motion (RIMM) is rallying and calls on the Blackberry-maker are actively traded Thursday. Shares gained 64 cents to $16.25 and options volume so far is 35,000 calls/12,000 puts. Weekly (1/13) $16 calls, which are now 25 cents in-the-money and expiring later this week, are the most actives. 7,810 traded, in very small sizes. The biggest was a 189-lot at the 18-cent asking price when the stock was at $15.80. The market is now 34 to 36 cents. Jan 16 and 17.5 calls, which expire at the end of next week, are actively traded as well. Upside call buyers are active and implied volatility in RIMM options moved up 15 percent to 67.5 amid unconfirmed chatter the company has hired an advisor to explore strategic alternatives (Briefing).
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.