Shares of Endo Pharmaceuticals Holding Inc. (ENDP) were up 1.07 to 33.01.? ENDP is $5 off of its 52-week high.
Today paper rolled the ENDP Apr 35 call to the May 35 call for roughly .65.? The volume was 2,893 on the Aprils with an extra 5,907 going up in the calls. The average contract volume is 2,792 contracts per day in the name.? Open interest in the contracts is 15,000 and 39, respectively.
The trade looks like paper rolling an open long position in the Apr to May with about 12,000 contracts remaining in April open.? The May options appear to be opening buys marking as buy but the IV is down slightly which is curious.? There is more to this as the May is coming after estimated earnings on May 1. Most of the Apr options have had buyers since.? The volatility is moving in an opposite direction than the spread prices would indicate.
30-day implied volatility is 42%.? 10-day implied volatility is 21%.? 30-day implied volatility is trading above the 10-day historical volatility.
Endo Health Solutions Inc., formerly Endo Pharmaceuticals Holdings Inc., is a specialty healthcare solutions company focused on branded and generic pharmaceuticals, devices and services.