Call Volume Explodes as IMAX Corporation Pops (IMAX)

Shares of IMAX Corporation IMAX are higher on the session by 11.58%, currently trading at $29.97. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages. The has been some chatter this morning that IMAX may be bought by Sony Corp. SNE for over $40.00 per share. Disney DIS is another rumored suitor. Options traders are buying calls on the name today. So far 10,000 calls have traded on the name today, versus only 3,000 puts. Average call volume is in the neighborhood of 1,000-2,000 contracts per day. The January 2011 $35.00 call is seeing the heaviest action, trading 3,700 times on open interest of 102 contracts. IMAX Corporation together with its wholly owned subsidiaries, is an entertainment technology company, specializing in motion picture technologies and large-format motion picture presentations. The company is engaged in designing and manufacturing of large-format digital and film-based theater systems and the sale or lease of such IMAX theater systems.