Bullish options in play at United Parcel Service, Inc. (UPS)

Scientific Games Corp (NASDAQ:SGMS) – Options on gaming technology and services provider, Scientific Games Corp., are seeing heavier trading traffic than usual today, with volume in excess of 1,100 contracts as of 12:40 p.m. ET, versus average daily options volume of just 91 contracts. Shares in Scientific Games Corp (NASDAQ:SGMS) are up better than 3.5% on the day to stand at $9.58. Some traders appear to be buying upside calls on the name to position for shares in Scientific Games Corp. to extend gains during the next few months. The April $10 strike calls are most active, with roughly 960 call options in play against previously existing open interest of 49 contracts. Most of the April $10 strike calls were purchased this morning for an average premium of $0.70 apiece, and may be profitable at expiration in the event that Scientific Games Corp (NASDAQ:SGMS) shares rally another 11.7% to top the average breakeven point at $10.70. Shares in Scientific Games Corp. last traded above $10.70 in May 2012.

Caitlin Duffy

Equity Options Analyst

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