Verifone Systems (PAY) is down $6.91 to $38.09 and reeling today after reporting better than expected Q2 results, but guiding estimates lower for the third quarter. Volume is a heavy 18 million shares, and 10X the expected for midday. 29,000 puts and 9,600 calls traded on the San Jose, CA electronic payment systems company. Some investors are getting paid on Jun 43 puts, which are the most actives. 6,141 traded against 6,195 in open interest. The bulk of the OI is from yesterday when the contract was trading in small lots at a VWAP of $1.63 per contract. Average price today is $4.73 per contract. Oct 40, Jun 40, Jun 36, July 32, and Jun 38 puts are the next most actives in PAY today and 30-day ATM vols have eased 18 percent to 48.
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.