Is the Options Market Predicting a Spike in Nexstar Media (NXST) Stock?

Group 1 - The stock of Nexstar Media Group, Inc. (NXST) is experiencing significant attention due to high implied volatility in the options market, particularly for the Dec 20, 2024 $95 Call option [1] - Implied volatility indicates the market's expectation of future price movement, suggesting that investors anticipate a significant change in Nexstar Media's stock price, possibly due to an upcoming event [2] - Nexstar Media currently holds a Zacks Rank 5 (Strong Sell) in the Broadcast Radio and Television industry, with no analysts increasing earnings estimates for the current quarter, resulting in a decrease from $5.89 to $5.51 per share in the Zacks Consensus Estimate [3] Group 2 - The high implied volatility surrounding Nexstar Media may indicate a developing trading opportunity, as options traders often seek to sell premium on such options to capitalize on decay, hoping the stock does not move as much as expected by expiration [4]