Shares of CBS Outdoor Americas Inc. (CBSO) are up .15 to 32.81. CBSO is near the upper end of the 52 week range.
Today paper traded 10000 CBSO Jul 45 combination for 12.30.? The ADV is 12323 contracts. The OI is over 200,000 contracts on each strike.
The volume went up in 2 large blocks.? This combination is most likely a closing transaction after the tender for CBS/CBSO expired.? Essentially traders are closing synthetic short positions by selling out the deep put and buying the call.? This combination was trading .40 over parity on the close yesterday prior to the tender.
?30-day implied volatility is 33%.?? 10-day implied volatility is 46%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
CBS Outdoor Americas Inc. is a lessors of advertising space (displays) on out-of-home advertising structures and sites across the United States, Canada and Latin America.