Shares of Companhia Energetica Minas. (CIG) are down .19 to 7.95 today. CIG is near the upper end of 52 week range.
Today paper traded 700 CIG Dec 7.5 puts at .60. ?The ADV is 375 contracts.? The OI is 286 contracts.
The volume went up in several 50 lot blocks.? Paper hit the .60 bid and traders are looking for a higher price in CIG.? The return is not so bad on this short put if CIG stays above the 7.5 strike, around 7.5% to Dec.
30-day implied volatility is 36%.?? 10-day implied volatility is 28%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Companhia Energetica de Minas Gerais Cemig is a Brazil-based holding company primarily engaged in the electricity sector.?