Over 9,000 LGF calls have traded, primarily the March 25 strike.
Lions Gate Entertainment Company, trading 23.23 with an IV30 of 48.35 and an HV10 of 56.25, is seeing call action today.? The name, which has an ADV of 2300 contracts and OI of just under 60,000 contracts, saw over 9,000 calls trade, primarily the March 25 calls where traders began buying them for .20, then paid .25 for 2500 and .40 for 2500 more.? All untied and mostly appear to be crossed.
These appear to be a play on a short term up move in LGF.? The stock has been above 25 as recently as February 4th just before earrings. Of last the stock has recovered thus these could be a play on a recovery.? Although with heavy open interest on the 25 strike, these could be a close.
This trade should be consider bullish LGF and bullish volatile in LGF