10000 IBM Apr 160 calls and puts went up in two blocks with the puts trading through the offer.?
Calls go up STLD- OTM call buyers
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Shares of Steel Dynamics, Inc. (STLD) are up .53 to 18.14.? STLD is near the lower end of the 52 week range.
- Paper traded 2500 STLD May 20 calls FOR .325.
- The ADV is 1963 contracts.
- The OI is 341 contracts.
The volume went up in two blocks on split prices.? STLD is making a small rally today with some call buyers jumping in.? Overall this is a very bullish trade since the net moves in STLD are usually small.
- IV 30 is trading for 35%.
- HV10 is trading for 36%.
- IV 30 is trading below the HV 10.
Steel Dynamics, Inc. (SDI) is a steel producing and a metal recycling company. The company operates through three segments: steel operations, metals recycling and ferrous resources operations, and steel fabrication operations.
Combos trade in PNK-big call spreads and puts trade
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Shares of Pinnacle Entertainment, Inc. (PNK) are up .07 to 33.52 today. PND is near the upper end of the 52 week range.
- Paper traded 3200 PNK Sep 35/40 call spreads over Sep 29 puts for .50.
- The ADV is 1241 contracts.
- The OI is 10000 contracts per strike.
The volume went up in 3 large blocks between the markets.? PNK is near the top of the range and the way this combo traded looked more like buying the call spread and selling the put.? If this is closing the OI, they are doing this relatively early in the trade cycle with a Sep expiration.? The stock recently gapped and the customer might be reducing to let it continue to run.? If the trade is more of the same OI, it is looking bullish.
- IV 30 is trading for 33%.
- HV10 is trading for 73%.
- IV 30 is below the HV 10.
Pinnacle Entertainment, Inc. (Pinnacle), owns, operates and develops casinos and related hospitality and entertainment facilities. The Company owns 14 gaming properties in Colorado, Indiana, Iowa, Louisiana, Missouri, Mississippi, and Nevada. Pinnacle also owns a racetrack in Ohio that is being re-developed into a new gaming entertainment facility and manages a racetrack in San Antonio, Texas.
Combos trade in IBM- possible conversion
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Shares International Business Machines (IBM) are up .26 to 157.06 today. IBM is near the middle of the 52 week range.
- Paper traded 10000 IBM Apr 160 calls and puts for 3.00.
- The ADV is 32530 contracts. ?
- The OI is 11241 and 8151 contracts.
The volume went up in two blocks with the puts trading through the offer.? This combo traded 3 dollars against 1000000 shares trading 156.915.? With the stock lower and puts trading through the offer it looks like the customer took the conversion for a .085 credit.? This might cover carry costs but the motivation is a mystery.
- IV 30 is trading for 18%.
- HV10 is trading for 18%.
- IV 30 is at the HV 10.
International Business Machines Corporation (IBM) is an information technology (IT) company. IBM operates in five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems and Technology and Global Financing. GTS primarily provides IT infrastructure services and business process services. GBS provides professional services and application management services.