Shares of the KeyCorp (KEY) are trading down .01 today to $8.43. Open interest is now over 41,000 contracts on the Mar 8 call and Mar 7 puts.? The client rolled the long combination (long call/short put) position to Mar.
Here is the original post from December 21.
A large call/roll combination trade in KEY on Dec/Mar 8 calls and Mar 7 puts.? The call roll traded for .45/.72 with the puts trading .10.? The block volume today in the strikes is 25,270 contracts.? Average contract volume is over 4,000 contracts per day for the name.? Open Interest is over 30,000 contracts in the Dec and 18,000 contracts in the Mar strikes.? The implied volatility is up 1% in Mar suggesting the trade was vega neutral. The paper looks to be rolling this combination (long call and short put) with the Dec 7 puts expiring worthless based on the executing prices.
30-day implied volatility is 30%. 10-day implied volatility is 20%.? 30-day implied volatility is trading over the 10 day.
KeyCorp is a bank holding company for KeyBank National Association (KEY).