Weber shorts get grilled as option volume sets all-time record

Weber shorts get grilled as option volume sets all-time record. Shares up $1.77, or 22%, this afternoon with a record 78k contracts trading, 16x normal, and calls leading puts 5:1 as implied volatility increases by nearly 30 points in the September term to 192%, also a record. Nearly all of today's flow hit the tape just after 2:21pm ET as shares began to spike from the $8.40 level, with buyers sweeping nearly 4k Aug 10 strike calls from 20 to 30c as shares lifted toward $9. Nearly 25 minutes later these calls traded $1.95 as shares topped $11.35. Weber shares are down nearly 50% from October $18 levels and difficult for short-sellers to borrow, with an implied rate near 24% annualized. Thefly.com reported a number of analysts downgraded the stock this week after the company suspended their dividend.