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AU Optronics Call Trading Increases to 18-Month High

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Dec. 3 (Bloomberg) -- AU Optronics Corp. call-option trading jumped to an 18-month high in the U.S. as investors boosted bets that Taiwan’s second-largest maker of liquid-crystal displays will advance in the next four months after losing 16 percent this year.

More than 5,000 calls to buy the stock changed hands, 121 times the four-week average, compared with 10 puts to sell as of 4 p.m. in New York. Almost all volume was concentrated in the April $10 calls, which were unchanged at 95 cents. There was open interest, or the number of existing contracts, of 2,158 calls and 389 puts before today. AU’s American depositary receipts slipped 0.7 percent to $10.05 on the New York Stock Exchange.

Implied volatility, the key gauge of option prices, for at-the-money options expiring in 30 days rose to 32.34 today, up from a three year low of 28.63 on Nov. 24.

The Hsinchu, Taiwan-based company posted a 97 percent plunge in third-quarter profit Oct. 27, missing analyst estimates after panel prices fell more than it expected.

To contact the reporter on this story: Jeff Kearns in New York at jkearns3@bloomberg.net.

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.

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