Shares of British Petroleum (BP) traded up .19 to 41.15 yesterday.? BP is trading $3 off of it highs for the year.
The BP Oct 41 calls and BP Oct 37 puts traded over 15,000 and 11,000 contracts marked as a spread for 1.85 and 1.665.? Average volume is 34,033 contracts per day.? Open interest is around 600 contracts per strike.
The spread looks like a collar (buying puts and selling calls) aggressively at the strike.? Eventually 20,899 calls traded and 16,721 puts traded by the end of yesterday.? There was volume in the very upside Apr 43 and 44 calls with 3 days to go until expiration that looked like closing paper.? The calls are still bid.
30-day implied volatility is 22%.?? 10-day implied volatility is 14%.? 30-day implied volatility is trading above the 10-day historical volatility.
BP PLC (BP) is an integrated oil and gas company.