Volume Spike Investor

International Game Technology (NYSE: IGT) is rarely one of the more active stocks out there in trading volume, and you almost never get any real activity in the trading of the stock options. So why is there a sudden flurry of PUT OPTION trading today?

Below is the trading we saw in the IGT options today, along with the open interest:
OPTIONS               Volume    OpInt
JUNE08 $30 PUTS  3,660       946
JULY08 $30 PUTS  12,723     15,277
OCT08 $30 PUTS  1,533       9,890
JAN09 $25 PUTS  3,541        1,078
JAN09 $30 PUTS  2,986        1,116

The share volume doesn’t coincide or at least doesn’t give any insight. At 3:45 PM EST we have seen only 3.65 million shares trade with shares up 2.8% at $31.23.

Average Daily Volume: 4.04 million shares
52-Week Range: $29.97 to $49.41
Market Cap: $9.7 Billion

Jon Ogg
June 13, 2008