Shares of Boyd (BYD) gaming are up almost 10% today trading at 7.78
The casino owner will report earnings on Feb 19 before the open.? A trader that was open in the regular Feb 8 calls, closed his or her purchase of 11,000 calls on Jan 4 paying .20, eating a small loss of .05.? The trader then took the premium from the closed calls an put it toward the purchase 9,000 of the March 8 calls paying .42 a contract.? An implied vol of 68.20
The purchase is already paying off as March IV has moved up two points since the trade.? Expect 30-day IV to climb through the 19th as clearly this stock has HEAVY interest in its earnings.? Long-term IV on this stock is usually closer to 50%.? A large move is being priced into earnings.
Do not be shocked to see additional action in this name as this call buyer has been ?piggy backed? in the past.