Shares of Resolute Energy Corp (REN) are down .26 to 8.49 today.? REN is in the middle of the 52 week range.
Today paper traded 4000 REN Sep 7.5/12.5 call spreads with the Sep 9 call for .70.? The ADV 1030 contracts.? The OI is just over 4k for the 7.5s and 12.5s and 1000+ on the 9s.
The volume went up in 3 blocks.? This volume looked like a sell to close Sep 7.5/12.5 spread and buying to open the Sep 9s.? The trader is taking profits on the call spread and rolling up to the ATM calls.? This still looks like a long delta play.
?30-day implied volatility is 43%.?? 10-day implied volatility is 29%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Resolute Energy Corporation is an independent oil and gas company engaged in the exploitation, development, exploration for and acquisition of oil and gas properties.