Shares of Lowe’s Companies (LOW) are trading higher on the session by 1.59%, at $33.48. The stock pushed to a fresh 52-week high of $33.59 earlier in the session, capping off a stellar two-month rally.
One trader is rolling his or her long call position in LOW today. A short while ago the November $32.00 call was sold 8,630 times, below the spread, for $1.69 just as 8,630 December $34.00 calls were purchased, on the offer, for $1.08. Given the open interest on each strike, 13,392 and 469 contracts respectively, this is more than likely a roll of an existing long call position.
Overall call volume is now running at 2.5x normal volume with 23,549 calls traded.
30-day implied volatility is off 3.5% today to 25.02%, while 10-day realized volatility is registering 24.56%.
Lowe’s Companies, Inc. is a home improvement retailer. As of February 3, 2012, Lowe’s operated 1,745 stores, consisted of 1,712 stores across 50 United States, 31 stores in Canada and two stores in Mexico.?