Shares of Take-Two Interactive Software (TTWO) are trading lower on the session by 1.61%, at $10.97. The stock has been consolidating below the 200-day moving average for the past five weeks.
One trader is selling volatility on the name today in the form of a short straddle. A short while ago the December $11 straddle was sold 7,347 times, near the bid, for $1.60; the spread at the time of trade was $1.50/2.40.
With current open interest of 5,041 and 367 contracts, respectively, this is clearly new positioning on TTWO. Overall options volume is now running at 5x normal volume with 15,535 contracts traded.
30-day implied volatility is off 7.8% today to 48.16%, while 10-day realized vol is registering 37.26%.
Take-Two Interactive Software, Inc. is a developer, marketer and publisher of interactive entertainment for consumers worldwide.?