Shares of PACCAR (PCAR) are popping higher this morning following the release of the company?s Q3 earnings results. The stock is up 4.78%, trading at $41.46. Curious to note here that PCAR reported in-line quarterly EPS, but missed on revenues and gave squishy guidance.
One trader is looking through the fog today and is selling upside calls. A short while ago the December $45.00 call was sold 2,327 times, on the bid, for $0.45. Open interest on the strike is only 62 contracts, indicating new positioning.
30-day implied volatility is crashing lower today, currently off 23% to 24.50%; 10-day realized volatility remains just below 20%.
At $0.45, the Dec $45 calls were sold at only 22% vol, voicing the opinion that movement (and upside) will remain tepid over the next few months.
PACCAR Inc. is a global technology company whose Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks and related aftermarket parts.?