Shares of the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) are down .56 to 92.67. ?HYG is near the upper end of the 52 week range.
Today paper traded 15000 HYG Jan 2015 90 put/ 92 calls for 3.80.? The ADV is 15004 contracts. The OI is less than 1000 contracts on both strikes.
The volume went up in 4 large blocks.? There is no open interest to speak of on these strikes so this is an opening straddle buyer.? The trader thinks there is much volatility to come in the HYG.
30-day implied volatility is 7%.?? 10-day implied volatility is 5%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
iShares iBoxx $ High Yield Corporate Bond ETF (the Fund), formerly iShares iBoxx $ High Yield Corporate Bond Fund, is an exchange-traded fund (ETF).?