Shares of TAL International Group, Inc. (TAL) are up .98 to 45.33.? TAL is in the middle of the 52 week range.
Today paper traded 1000 TAL Aug 45/Oct 42.5 put spreads .02-.03. ?The ADV is 1233 contracts.? The OI is 530 and 3573 contracts.
The volume went up in two blocks.? This is a trade based on buying puts short term and trying to finance them in the long term.? The client bought the Aug 45 puts and financed by selling the Oct 42.5 puts.? With the low OI in August these are not closing.
30-day implied volatility is 45%.?? 10-day implied volatility is 9%.? 30 day implied volatility is trading above the 10 realized volatility
TAL International Group, Inc. is a lessor of intermodal containers and chassis.?