Electronic Arts is seeing unusually heavy options activity ahead of its earnings report next week.
The average options volume for the game software company is 9,370 for a full session, but more than 78,000 contracts have changed hands so far Tuesday. More than 8,500 calls traded versus 840 puts in the first 17 minutes of the session alone, according to OptionMonster's real-time tracking systems.
The activity was concentrated at the May 20 through May 24 strike prices, where call buying began early this morning and continued throughout the day. Buying was heaviest in the May 22.50 calls, which saw 18,724 contracts traded against open interest of 4,172.
ERTS stock is trading up 2.4 percent to $20.45, after testing lows under $15 in early March. The company is scheduled to report its quarterly earnings after the market closes May 5.
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