Volume Spike Investor

International Game Technology (NYSE: IGT) has already seen more than its average daily volume trade in the first hour of trading today.  This stock is down a sharp 8.3% at $25.03 at 10:52 AM EST on more than 5.2 million shares. The culprit is a Morgan Stanley downgrade where the cut was from Overweight to Equal-Weight.  This will also mark another 52-week low.  We have also seen 1,175 of the IGT JULY08 $25.00 PUTS trade today, which is more than the entire open interest of 1,146 contracts based upon prior levels.

52-week range:   $27.18 to $49.41

Avg. Volume:       4.14 million shares

OPTIONS:             YES

Jon Ogg

June 27, 2008