GCI – Gannett Co., Inc. – Call options on the publishing giant are in high demand today with shares of the underlying stock rising as much as 8.3% to an intraday high of $13.64. Gannett’s shares took off after the Wall Street Journal reported the company, along with the New York Times and News Corp., are looking to offer software apps for Samsung’s Galaxy tablet. Investors have thus far exchanged more than 6.25 calls on the stock for each single put contract in play as of 3:15 pm ET in New York trading. Near-term bullish players picked up some 5,300 now in-the-money calls at the October $13 strike for an average premium of $0.58 a-pop. Investors long the calls make money if the USA Today publisher’s shares exceed the average breakeven price of $13.58 by October expiration. Optimism spread to the higher October $14 strike where more than 6,100 call options changed hands. At least 1,500 of those contracts were purchased for an average premium of $0.42 each, while the bulk of the remaining volume traded to the middle of the market. Uber-bulls looked out to the November $15 strike to purchase approximately 2,500 calls at an average premium of $0.41 apiece. Call buyers at this strike are prepared to profit if GCI’s shares jump 5.645% over today’s high of $13.64 to exceed the average breakeven point at $15.41 by expiration day next month. Options implied volatility on Gannet Co. jumped 16.6% to 60.43% in late afternoon trading.