Shares of Phoenix New Media LTD (FENG) are down .93 to 10.25.? FENG is in the middle of the 52 week range.
Today paper traded 2000 FENG Oct 10/12.5 call spreads for .75. ?The ADV is 301 contracts.? The OI is 732 and 1338 contracts.
Volume went up in 2 blocks.? The spread trade between the marks skewed to the sell side near the bottom of the day for FENG.? The OI is too low for this to be a roll so it is most likely an opening call spread seller.? IV is down a day after earnings so the spread seller is looking to collect some decay.? This could be against stock.
30-day implied volatility is 52%.?? 10-day implied volatility is 45%.? 30 day implied volatility is trading above the 10 realized volatility.
Phoenix New Media Limited (PNM) is a new media company providing content on an integrated platform across Internet, mobile and television (TV) channels in China.