ActivisionBlizzard options active Friday morning as shares drop 12%
ActivisionBlizzard options active Friday morning as shares drop 12%. The stock off $6.40 to $44.95 after the company announced that Bungie will take over the Destiny franchise, which will apparently result in a loss of revenue for ATVI. Some players in the options market seem to be anticipating a rebound during the trading day, as expiring Jan 11th 46 calls were bought for 19 and 21c per contract. Nearly 17K changed hands against 81 contracts open interest. Separately, 5.6K Jan 43 - 49 put spreads sold at $3.40 and probably rolls long puts down six strikes. Lastly, 2.2K Jan20 40 - 52.5 risk-reversals print 60c and appears to be a bullish one-year trade in the name. Total volume is 3X daily average at 26K calls and 21K puts.