Shares of Phillips 66 (PSX) are trading lower on the session by 0.69%, at $47.17. The stock has been ticking higher for the past six months and is trading just below a fresh 52-week high of $48.40, which was set this morning.
Calls are active on the day today with call volume running at 3x normal volume. The majority of the action stems from a call spread in January 2013, where the $55.00 call was purchased 11,900 times, on the offer, for $1.15 and the $60.00 call was sold 12,000 times, on the bid, for $0.40. Volume exceeded open interest on the later, but not on the former.
30-day implied volatility is off 4.8% today to 36.02%; 10-day realized vol is registering 41.59%.
Phillips 66 is a holding company. The company is engaged in producing natural gas liquids and petrochemicals. The company operates in three segments: the Refining and Marketing segment, the Midstream segment and the Chemicals segment.