Shares of Globe Specialty Metals, Inc (GSM) are down .36 to 14.39.? The shares are trading nearer the middle of the 52-week range.
Today paper bought the GSM Sep 12.5 puts for 0.70 for a total of 2,000 contracts in several blocks. ??Average volume is 247 contracts per day in the name.? Open interest is 2,010 contracts on the puts.
The trade printed on the offer and looks like closing paper due to the open interest.? The IV move was light at up .6 in Sep.
30-day implied volatility is 28%.?? 10-day implied volatility is 20%.? 30-day implied volatility is trading above the 10-day historical volatility.
Globe Specialty Metals, Inc. (GSM), is a producer of silicon metal and silicon-based alloys, with approximately 120,000 metric tons (MT) of silicon metal capacity (excluding Dow Corning Corporation?s portion of the capacity of its Alloy, West Virginia plant) and 120,000 MT of silicon-based alloys capacity.