Shares of Franco-Nevada Corp. (FNV) are up 1.47 to 46.89 today. FNV is near the middle of the 52 week range.

Today paper traded 5500 FNV Oct 45 calls at 3.8-3.90.? The ADV is 739 contracts.? The OI is 60 contracts.

The volume went up in 4 blocks. The trade went up near the bid and was marked as a buy-write.? It is an aggressive trade to sell an ITM call like the 45s so the trader is looking to just capture the premium.? The calls were about $3.5 over parity at the time and set up for the name to move sideways for a while.

30-day implied volatility is 33%.? ?10-day implied volatility is 23%.? 30 day implied volatility is trading above the 10 Day Historical volatility.

Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company with interests in platinum group metals (PGMs), oil and gas and other resource assets.