Shares of SBA Communications Corp. (SBAC) are up .44 to 91.61 today. SBAC is near the middle of the 52 week range

Today paper traded 1000 SBAC May 85 puts at .25. The ADV is 743 contracts.? The OI is 80 contracts.

The volume went up in one block.? Trade on the day is over 7700 contracts with the an early .25 seller coming into the market and continuing to sell puts.? The IV is down .93 points to 22.2 in May.? There is a .25 bid now for the puts where none existed on the open.? Earnings are May 1.? The scattered nature of the trade on many exchanges looks like the put seller was selling these naked.

30-day implied volatility is 22%. ? 10-day implied volatility is 24%.? 30 day implied volatility is trading below the 10 Day Historical volatility.

SBA Communications Corporation (SBA) is an independent owner and operator of wireless communications towers. The Company?s principal operations are in the United States and its territories.