MGM Resorts International (MGM) - Unusual Options Volume

Posted on 01/07/2013 by Norm Sorkin

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NEW YORK (AVAFIN) -- Trading of MGM Resorts International options resulted in establishing a new 90-day call volume record, where 7,222 call contracts exchanged hands between the buyers and the sellers. A total of 23,543 put and 7,222 call contracts was traded raising a 3.26 put/call ratio on shares of MGM

The skewed options ratio suggests that traders are re-balancing their portfolios in anticipation of a price shift. Unusual volume activity directly reflects investor outlook and confirms that a stock move is imminent.

MGM Resorts International is a holding company, which through its wholly-owned subsidiaries, owns and/or operates casino resorts.

MGM Resorts International opened at $12.53 and the stock price rose $0.04 (+0.32%) to $12.68 during the market session. MGM is trading between the range of $12.45 - $12.73. To date, the stock has gained 7.94% within the last week. Volume is 9M in relation to the three month average volume of 10M shares. The technical momentum Relative Strength Index indicator shows overbought conditions. MGM is trading above the 50 day moving average and higher than the 200 day moving average.

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