The company is up on news that it received the "Bio-safety Certificate from China's Ministry of Agriculture as a final approval for its genetically modified phytase corn" (Click here for Source). With only 22 million shares in the float over 17.5 million shares have traded in the first 2.5 hours of trading (average stock volume is ~150k).
The average option volume is 112 contracts a day. The Company Tab snapshot below shows that over 44,000 options have already traded (that's not a typo). You can see that the option trades have been selling this vol and selling deltas (click image below to enlarge). There is also a possibility that this is an insider selling calls against stock they own.
Specifically, you can see the largest trades for the day - they have been the Dec 10 Calls. See the ridiculously high volume on the Dec 10 line from the Options Tab snap below (click image to enlarge).
A closer look at the largest trades from the Company Tab shows two trades about 10,000 contracts each selling Dec 10 calls on the bid (red coloring). Some smaller trades appear to have traded on the offer, but overall there are substantial sellers of this line (negative net deltas and net preium)
Might be an interesting issue to look at and possibly lead to some trading ideas. Looks risky as well. This is possibly going hard to borrow which may lead to a squeeze. If customers are selling, then market makers are getting long the gamma - so $10 could be a resistance level as well as a support.
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