The company leveled copyright infringement accusations against OpenAI and Microsoft
New York Times Inc (NYSE:NYT) stock was last seen up 1.9% at $48.26, after the media giant became one of the first to sue both OpenAI and Microsoft (MSFT), claiming copyright infringement. In a court filing, the Times accused the two companies of using millions of its articles without permission or payment to train substitutive artificial intelligence (AI) technologies, such as ChatGPT.
Shares are bouncing back from a pullback from their Dec. 4, two-year high of $48.80, with support stemming from the 40-day moving average. NYT also today conquered short-term resistance at the $48 level, and currently sports a healthy year-to-date gain of roughly 47%.
Short-term options traders have been more bearish than usual. This is per New York Times stock’s Schaeffer’s put/call open interest ratio (SOIR) that stands higher than 89% readings from the past year.
Premiums are affordably priced right now, per the equity’s Schaeffer’s Volatility Index (SVI) of 22% that ranks higher than just 16% of annual readings, indicating the options market is pricing in relatively low volatility expectations.