IMAX adds 9 cents to $19.28 on relatively light volume of 240,000 shares. Yet, options on the stock are busy, with 6,900 calls and 115 puts traded on IMAX so far. The bulk of the flow has been in June upside calls. A 4,100-lot of Jun 21 calls traded for 35 cents when the market was 25 to 40 cents. June 20 calls are the second most actives. 2,415 changed hands (93 percent Ask). 30-day ATM vols are up 2 percent to 64. Some players might be positioning for a rebound after a one-month 28 percent slide in the underlying. Short interest might be driving some of the action, as the short (percent to float) ratio is 13.9 percent.
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.