Monday, August 23, 2010

Activision (ATVI) - Half a Million Calls Trade

ATVI is trading $10.90, down 1.4% with IV30™ up 0.8%. The LIVEVOL™ Pro Summary is below.

This color comes from Darren Story, Student Options:
ATVI Customer:
bot 125,000x feb 12c ~ .62
bot 62,500x feb 14c ~ .20
bot 62,500x feb 15c ~ .11
sld 250,000x feb 13c @ .37 , xx-all CBOE

The company has traded over 500,000 options on total daily average option volume of just 5,959. The largest trades are listed above. The Stats Tab and Day's biggest trades snapshots are included (click either image to enlarge).

The Options Tab (click to enlarge) illustrates that the everything is mostly opening (obviously).

Let's take a look at the PnL chart at expo. for Feb'11.

Breakeven Low: $12.03
Breakeven High: $13.96
Max Gain: $12,078,000
Max. Loss: $6,687,500

Not much else to say other than, wow... This is a gigantic bullish bet that ATVI goes to $13 (short strike). Note this isn't naked long - this is a range bound bullish bet.

This is trade analysis, not a recommendation.

Legal Stuff:

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