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Argosy Gaming (AGY – 18) has been fighting back from its late-1998 lows, staging quite a recovery from its all-time low of 1-7/8 that was achieved more than two years ago. Much of this quest higher has been supported by the equity's ascending 10-month moving average.
Today, the issue rallied over six percent amid a sagging broader market. This jolt higher was spurred by the firm's announcement that it should match earnings estimates for the fourth quarter. AGY officials went on to prognosticate that, barring severe weather that could keep casino-goers out of its boats, an upside surprise was possible. In additional news, AGY agreed to acquire Conseco Entertainment's minority stake for $260 million.
AGY is an optionable stock, but the site of heaviest open interest is the February 17-1/2 call, which is home to 1,305 contracts. 1,000 contracts traded on this strike today, as two blocks of 500 traded shortly after 11:30 a.m. These both traded between the bid and the ask prices.