Shares of Kellogg Company (K) are down .19 to 58.17. ?K is near the bottom of the 52-week range.
Today paper traded 2500 K Feb 55 puts at .15-19 2500.? ADV is 1500 contracts.? The OI is 34 contracts.
The volume went up in small to midsize blocks with volume totaling 2536 so far.? This is a very aggressive play going into earnings which is essentially drawing a line for K that it won?t break $55.? The puts sale is a trade with a high volatility put low dollar price.
30-day implied volatility is 18%.? ?10-day implied volatility is 17%.? 30 day implied volatility is trading below the 10 Day Historical volatility.
Kellogg Company (Kellogg) is engaged in the manufacture and marketing of ready-to-eat cereal and convenience foods.