GENCO Shipping and Trading, Ltd. (GNK) stock is trading at 3.85, and there is significant call action on the February 5 calls which are being bought in size for .15.? So far over 7,000 contracts have traded against open interest of 400.? The volatility of the options which had hit near a 52-week low of 61 on January 4,and has since sky rocketed higher back above 85%.? Vol is up 14% today and the stock is off 22 cents.? One has to wonder whether this is a trader hedging a large short position in this name as the stock was trading below 2.75 less than one month ago.
Genco Shipping & Trading Limited engages in the ocean transportation of drybulk cargoes through the ownership and operation of drybulk carrier vessels worldwide