The video game maker outperformed its first quarter earnings
Activision Blizzard, Inc. (NASDAQ:ATVI) The stock is down 11.3% and is trading at $76.96 at the last check, on track for its worst single-session percentage drop in nearly two years.Video game company tops first quarter earnings, but UK regulators are trying to block it $69 billion acquisition of Microsoft (MSFT) of video game publishers. The UK Competition and Markets Authority (CMA) said: competition concerns It led to opposition in the early cloud gaming market.
Today’s options volume is 10 times the average intraday volume, with 109,000 calls and 145,000 puts traded to date. The most popular is every 75th May, followed by the same classic series every 80th year.
This trend towards bearish betting is nothing new, according to the stock’s put/call open interest ratio of 1.06, which is in the 89th percentile of annual measurements. This high number means short-term options traders have rarely been bearish in the last 12 months.
Activision Blizzard shares are trading at their lowest level since February, well below the late March bull gap. Keep an eye out for his two levels going forward. ATVI’s 260-day moving average including today’s drawdown and stock’s slight year-to-date lead.
