Electronic Arts Shares, Options Surge After CEO’s Presentation
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Electronic Arts Inc. rose to the highest intraday level since May and options prices soared the most since September 2009 after the company said it has a strong slate of games coming out in the next year.
The second-largest U.S. video-game publisher gained 2.9 percent to $19.07 as of 3 p.m. in New York and earlier rose 9 percent. Implied volatility, the key gauge of option prices, for at-the-money options expiring in 30 days jumped 23 percent to 40.42 as traders bet on larger share-price swings. Trading of calls to buy the stock was almost quadruple the four-week average and 2.4 times the number of puts to sell.