Shares of Constellation Brands Inc. (STZ) were up $10 to $41.20 in premarket trading.? STZ is trading at a 52-week high in the pre-market.
Yesterday, paper bought the STZ Feb 35 calls for .05 on scattered volume totaling 1,718 contracts. ?Average volume is 20,000 contracts per day.? Open interest is over 7,500 contracts.? The implied volatility for Feb was up 2 points.
The trade looked to be buying on speculation of the STZ buy out happening again.? There was small volume up the strikes in Feb.
30-day implied volatility is 28%.?? 10-day implied volatility is 19%.? 30 day implied volatility is trading just above the 10 day historical volatility.?
Constellation Brands, Inc. is a wine company. The Company is a marketer of imported beer in the United States. through its investment in Crown Imports, LLC (Crown Imports), a joint venture with Grupo Modelo, S.A.B. de C.V. (Modelo) pursuant to which Modelo?s Mexican beer portfolio (the Modelo Brands) are imported, marketed and sold by the joint venture in the United States. The Company operates in three business segments: Constellation Wines North America (wine and spirits) (CWNA), Corporate Operations and Other, and Crown Imports.