Shares of Travelers Companies (TRV) are down .31 to 92.33.? TRV is near a 52 week high.
Today paper traded 5000 Jun 92.5 calls over 2070 May 90 calls for an 0.85 credti. ?The ADV is 1163 contracts.? The OI is 2518 in May and 324 in Jun.
The volume went up several blocks marked spread.? The trade looks like a roll up and out where the customer is taking profits by selling out the May?s and buying the Jun?s.? Generally, when the size increases, that is because the first trade was successful on a roll.? They are looking for more upside in TRV.
?30-day implied volatility is 12%.?? 10-day implied volatility is 10%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
The Travelers Companies, Inc. (TRV) is a holding company.?