Options Active As TiVo Explodes Higher (TIVO)
April 20, 2011 11:59 AM
Shares of TiVo Inc. (NASDAQ: TIVO) are screaming higher this morning after a U.S. Court of Appeals partly vacated damages to the company from competitor EchoStar (NASDAQ: SATS).
Shares of TiVo Inc. are trading higher by 44.92%, at $12.13.
According to Dow Jones, “The U.S. Court of Appeals for the Federal Circuit on Wednesday gave a partial victory to EchoStar Corp., deciding to vacate, in part, the damages awarded to TiVo Inc. for EchoStar's "continued infringement" of patents on technology to replay live television shows.”
"However, we once again affirm the district court's finding of contempt of the disablement provisions of the permanent injunction and its sanctions award in its entirety because we conclude that EchoStar waived arguments of overbreadth and vagueness with regard to that provision," the court found.”
Options volume is predictably exploding today. So far, over 105,000 calls have traded and 32,000 puts. The front month is seeing the majority of the volume, while the $12.00 and $13.00 strikes are also quite active in June and August.
TiVo Inc. is a provider of advanced television technology and services that redefines home entertainment by providing consumers with an easy way to manage, control, watch, and record live television and receive thousands of movies and television shows from cable, broadcast, and broadband sources in intuitive user interface.
