16789 TCK May 13/15 put spread went up in 2 blocks. The trader is using the puts as a downside hedge or rolling up the puts to catch a move on earnings.
Puts trade in TCK- large put roll
Shares of Teck Resources LTD (TCK) are up .51 to 14.82 today. ??TCK is near the low end of the 52 week range.
Paper traded 16789 TCK May 13/15 put spread for .84. ?
- The ADV is 5102 contracts.
- The OI is 22147 and 599 contracts.
The volume went up in 2 blocks.? Smaller size went up to the tune of 231 contracts for an even 17k spreads.? The trade is buying the 15 puts and selling out the 13 puts, most likely closing on the 13s.? The trader is using the puts as a downside hedge or rolling up the puts to catch more of a move down on earnings (Feb 12th).
- IV 30 is trading for 64%.
- HV10 is trading for 60%.
- IV 30 is trading above the HV 10.
Teck Resources Limited (Teck) is engaged in exploring for, developing and producing natural resources. Teck?s activities are organized into business units focused on copper, coal, zinc and energy.
Risk reversal goes up in CX- maybe new long paper
Shares of Cemex SAB (CX) are up .81 to 9.62 today. ??CX is in the low end of the 52 week range.
Paper traded 2100 Mar 10 calls and Mar 9 puts for .05 credit. ??
- The ADV is 9874 contracts.
- The OI 5645 on the puts and 4036 on the calls.
The volume went up in two blocks marked spread.? The trade could be the close of a risk reversal into earnings where the trader is getting out for a small credit.? The gain in the stock should offset the loss on the option combination.? It is possible the spread is opening but most of the paper has been closing after earnings.
- IV 30 is trading for 54%.
- HV10 is trading for 58%.
- IV 30 is trading below the HV 10.
Cemex SAB de CV (CEMEX) is a Mexico-based company principally engaged, through its subsidiaries, in the cement manufacturing. The Company produces, distributes and sells cement, clinker, ready-mix concrete, aggregates, concrete blocks, roof tiles, concrete pipes and related building materials in numerous countries worldwide.
Puts trade in OCN- looking buy write
Shares of Ocwen Financial Group (OCN) are up 1.09 today to 7.70. ?OCN is near the low end of the 52 week range.
Paper traded 5000 OCN Apr 4 puts for .45.?
- The ADV is 10890 contracts. ?
- The OI is over 1134 contracts.
The volume went up in 1 block marked buywrite.? A stock block of 60000 shares went up that could be tied to the transaction.? The ratio is way off on the delta so the trader is leaning long.
- IV 30 is trading for 135%.
- HV10 is trading for 142%.
- IV 30 is trading under the HV 10.
Ocwen Financial Corporation is a financial services holding company. The Company is engaged in the servicing and origination of mortgage loans. The Company’s Shared Appreciation Modification (SAM) incorporates principal reductions and lower payments for borrowers while providing a net present value positive loss mitigation outcome for investors, including the ability to recoup losses if property values increase over time. It operates in three segments: Servicing, Lending, and Corporate Items and Other