NEW YORK (Reuters) – Alibaba Group Holding Ltd’s record public offering of shares on Friday further spurred already elevated activity in Yahoo Inc’s options, pushing volume on the U.S. Internet company to a one-day record high.
Shares of Alibaba, in which Yahoo holds a big stake, surged 38 percent in their first day of trading on Friday, valuing the company at $231 billion by the close of trading.
NEW YORK (Reuters) – Alibaba Group Holding Ltd’s (BABA.N: Quote, Profile, Research, Stock Buzz) shares do not begin trading until Friday, so investors hungry for a bite of the Chinese e-commerce giant have turned their attention to Yahoo Inc’s (YHOO.O: Quote, Profile, Research, Stock Buzz) options in recent days.
The volume of options trading in Yahoo – which has a big stake in Alibaba – has risen steadily over the last month. On Thursday, a day before Alibaba’s debut on the New York Stock Exchange, options trading peaked with more than 929,000 contracts changing hands.
NEW YORK (Reuters) – Investors looking to hedge their bets or speculate on the direction of Alibaba Group’s IPO-BABA.N stock after its expected public sale of shares on Friday, will be able to trade its options in two weeks, as U.S. options exchanges are expected to list contracts on the company.
The Chinese e-commerce company’s options will be listed on CBOE Holdings Inc (CBOE.O: Quote, Profile, Research, Stock Buzz) and International Securities Exchange Holdings’ options exchanges on Sept. 29, pending the company’s public sale of shares this week, the exchanges said on Tuesday.