International Game Tech (IGT) touched a 52-week low today, but is now flat at $13.51. Interesting options trades on the stock include a multi-exchange sweep of 3332 Oct 15 calls for 65 cents per contract and, a minute later, a sweep of 1,702 for 70 cents. 5,121 now traded against 493 in open interest. 30-day ATM implied volatility is up 2 percent to 46. Upside call buying is possibly bottom-fishing after a two-month 22 percent slide in shares of the Las Vegas, Nevada maker of electronic gaming systems.
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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.