Shares of Con-way Inc. (CNW) are up .35 to 39.03 today.? CNW is in the middle of the 52 week range.
Today paper traded the CNW Mar 42.5/45 call spread .64 3000/5000x.? ADV is 4457 contracts.? The OI is 2529/7507 contracts.
The volume went up in large blocks on split prices.? There is existing OI on the strikes but the larger volume most likely means more of the same.? The markets are very wide and it looks like the customer is buying 1 and selling slightly more on a ration to drive the cost of the 42.5s down.? Overall a bullish trade with just medium bump in the stock price.
?30-day implied volatility is 43%.? ?10-day implied volatility is 29%.? 30-day implied volatility is trading above the 10-day historical volatility.
Con-way Inc. and its subsidiaries (Con-way) provides transportation, logistics and supply-chain management services for a range of manufacturing, industrial and retail customers.?