Such is the case for Barnes & Noble (BKS). In fact, it sports a current beta of 2.67, while at the same time its options volatilities are offered around the mid-30s.
The company's stock price has had a fair share of ups and downs over the past 5-plus years due to growth of the e-book industry, which is causing plenty of chaos for booksellers management teams such as those at Barnes & Noble.
In my household, each family member has their own e-book reader. We use the Amazon (AMZN) Kindle -- although my first reader was a Barnes & Noble Nook. While the lower cost to buy a book is a decent enticement to go e-book, the ability for me to carry a complete library almost anywhere I travel is my favorite feature. The e-book revolution is here to both stay and grow.
For a company that only a few years ago saw some analysts prematurely dancing on its grave, Barnes & Noble now has a decent balance sheet that shows no debt and $5 per share in cash. And after a string of losses, it could soon begin to show profitability, should analysts' earnings projections be on the money.
One more addition to this puzzling, relatively low options volatility for BKS now is that it has a very small float of only 45 million shares. And 7 million (15% rounded) of those shares have been sold short as of the latest reporting period. Thus, BKS has a short squeeze potential I rate as quite high.