Options on the newly listed shares of SoftBank's Arm Holdings , the year's biggest initial public offering, started trading on Monday, at a brisk pace, as a drop in the share price prompted investors to take guard.
, started trading on Monday, at a brisk pace, as a drop in the share price prompted investors to take guard.Some 29,000 Arm options contracts changed hands by 11:45 a.m. on Monday, the first day options were available for trading, with volume projected to hit 63,000 by the end of the day, according to options analytics service Trade Alert.
"The volume is robust," said Ophir Gottlieb, chief executive of Los Angeles-based Capital Market Laboratories. "The stock has fallen quickly. ... There is substantial selling pressure; put action could be speculations on further downside," Gottlieb said.
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