NorthStar Realty Finance Corp. (NRF) is down .06 to 14.80 today. NRF is near the upper end of the 52-week range

Today paper traded 6800 NRF Jun 14 calls at 1.0. The ADV is 10190 contracts.? The OI is 486 contracts.

The volume went in one block.? Trade on the day for this strike was just the buy write as it went up marked that way.? The customer is choosing an aggressive line with such a high dividend in play.? The trader might be positioning this sale as a short term hedge to be closed as ex-d approaches.

30-day implied volatility is 33%.?? 10-day implied volatility is 28%.? 30-day implied volatility is trading above the 10-day historical volatility.

NorthStar Realty Finance Corp. is an internally managed real estate finance company. It originates, acquires and manages portfolios of commercial real estate debt, commercial real estate securities and net lease properties.