Busiest day of the year for eBay as traders brace for earnings
Busiest day of the year for eBay as traders brace for earnings. Shares up nearly 3% to $32.54 after setting all-time highs above $33 late last month with nearly 130K contracts trading ahead of this afternoon's release, with puts slightly leading calls and 60% of the flow in contracts that expire this Friday. Oct 29 puts lead the most-actives with 10K trading, including 5500 sold for 20c in a 3way this morning against buys of 2500 Oct 29.5 puts and 3K Oct 30 puts. Straddle implies a move near 8% which is well above the 5.9% median move but less than last quarters 10.9% jump. Six of the past eight quarters have seen upside moves.