LinkedIn Options Go 'Weekly'
"Weekly" options on shares of LinkedIn started trading Wednesday for the very first time.
The ticker was included on the list of "weeklys" distributed by the Chicago Board Options Exchange (CBOE) and available for trading on both the CBOE and the International Securities Exchange (ISE) as of November 23rd for expiration December 2nd, 2011.
Trading in the newly listed "weekly" was very light ahead of the Thanksgiving holiday with just about 1,400 contracts changing hands.
Strikes available for trading covered a nearly $50 range from $47.50 on the downside to $95 on the upside. $60 puts was the most actively traded strike.
Shares of LinkedIn have had a rough run this week, dropping nearly 12 percent since close of business November 18th as the so-called lock-up period for investors that bought on the IPO came to an end.
LinkedIn, a professional networking site with more than 90 million members went public in May, 2011 at $45 per share. The company has already announced plans for a secondary offering of stock.
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