Unusual activity is on a roll today with a long-term call roll in WLB and a put roll up in AVNR.
Puts trade in PBPB- scattered put selling in here.
Shares of PotBelly Corp (PBPB) are down .16 to 12.42 today.? PBPB is near the bottom of the 52 week range.
Today paper traded 2149 PBPB Oct 12.5 puts for .65. ?
- The ADV is 677 contracts.
- The OI is 4049 contracts.
Volume went up in one large block.? ?A .65 trade was filled near the offer and .65 bids jumped in to fill.? This is most likely a closing trade for a short put position.? If they jumped in PBPB in early July this trade would have worked out ok.? IV is down slightly today meaning this is most likely a closing position.
- 30-day implied volatility is 40%.
- 10-day implied volatility is 30%.
- 30-day implied volatility is trading above the 10-day realized volatility.
Potbelly Corporation is a neighborhood sandwich concept offering toasty warm sandwiches, signature salads and other fresh menu items. Its sandwiches, salads and hand-dipped milkshakes are all made fresh to order and its cookies are baked fresh each day.
Calls roll in WLB- looks like a long term call roll
Shares of Westmoreland Coal Co. (WLB) are down .52 to 38.33 today. ?WLB is near the upper end of the 52 week range.
Today paper traded 1700 WLB Jan 35/40 call spreads at 2.40.?
- The ADV is 692 contracts.
- The OI is 2725 and 1142 contacts.
Volume went up in two large blocks.? Subsequent trade has this volume up to 2500 contracts with a roll up the most likely strategy.? The client is taking a winner and pushing it up to a higher strike.
- 30-day implied volatility is 40%.
- 10-day implied volatility is 37%.
- 30-day implied volatility is trading above the 10-day realized volatility
Westmoreland Coal Company (Westmoreland) is an energy company. The Company?s operations include six surface coal mines in Montana, Wyoming, North Dakota and Texas, and two coal-fired power-generating units in North Carolina.
Puts trade in AVNR- looks like a put roll up
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Shares of Avanir Pharmaceuticals Inc (AVNR) are up 3.88 to 10.61 today. ?AVNR is making a 52 week high today.
Today paper traded 5000 AVNR Jan 2015 4/7 put spread at .50- .55.?
- The ADV is 2148 contracts.?
- The OI is 5519 and 190 contracts.
Volume went up in 3 large blocks on the PHLX.? The put spread has the look of covering the short 4 put and selling out the Jan 7 put as the IV is coming in slightly in the back month.? The client thinks the big jump is here to stay in AVNR.
- 30-day implied volatility is 103%.??
- 10-day implied volatility is 74%.?
- 30 day implied volatility is trading above the 10 realized volatility
AVANIR Pharmaceuticals, Inc. (AVANIR) is a pharmaceutical company focused on developing and commercializing therapeutic products for the treatment of central nervous system disorders.