Shares of Abraxas Petroleum Corp. (AXAS) are up .11 to 4.30. ?AXAS is making a 52-week high.
Today paper traded 1000 AXAS Jun 5 puts at .85 and .90. ?The ADV is 326 contracts.? The OI is 59 contracts.
The volume went up in several small blocks.? This is the big volume for the day with most of the paper hitting the pit on this strike.? The IV is down 4.6 points in Jun so paper is looking for a jump to new higher prices for AXAS.? The trader is looking to capitalize on the higher IV by selling it to get long.
30-day implied volatility is 72%.?? 10-day implied volatility is 44%.? 30-day implied volatility is trading above the 10-day historical volatility.
Abraxas Petroleum Corporation is an independent energy company primarily engaged in the acquisition, exploitation, development and production of oil and gas in the United States and Canada.