Shares of NRG Energy Inc. (NRG) are up flat to 32.20 today. NRG is near the top of the 52 week range

Today paper traded 80000 NRG Jun 25/31 combos for 1.60 over 41000 Sep 27/34 combos for .80. The ADV is 6978 contracts.? The OI in Jun is over 80k contracts on the strikes mentioned and less than 1000 contracts in Sep.

The volume went up in many giant blocks all on the PHLX.? The trade looks closing in Jun to sell call and opening in Sep to buy call.? This is a giant risk reversal swap to keep the long deltas going into Sep.? NRG is up from early Feb and most likely the trader wants to keep the good long going.

30-day implied volatility is 23%. ? 10-day implied volatility is 25%.? 30 day implied volatility is trading below the 10 Day Historical volatility.

NRG Energy, Inc. (NRG) is an integrated wholesale power generation and retail electricity company in the United States.?