Shares of Nuverra Environmental Solutions (NES) are down 2.27 to 15.71 today.? NES is near the lower end of the 52 week range.
Today paper traded 313 NES Mare 15 puts for .35.? ADV is 736.? The OI is 466 contracts.
The puts trade in two midsize blocks early this morning.? NES has tanked since the open and these puts looked like they could be a short covering play on the drop in IV.? Volume has jumped to 1386 with paper buying more puts on balance. There looks like an early release of news sending the shares lower.
30-day implied volatility is 80%.? ?10-day implied volatility is 68%.? 30-day implied volatility is trading above the 10-day historical volatility.
Nuverra Environmental Solutions, Inc., formerly Heckmann Corporation, provides environmental solutions to protect, enhance and advance environmental sustainability.?