The Options Insider

3-way Put Spread Goes Up in DO

by | Apr 8, 2015 | Unusual Activity

6300 DO Apr 30 puts over May 22.5/27.5 puts went up in 3 blocks with the Apr puts through the bid.?

Puts trade in ABX- put roller going for more

?ABX

Shares of Barrick Gold Corp (ABX) are down .02 to 12.34 today. ?ABX is near the lower end of the 52 week range.

  • Paper traded 6000/3000 ABX Apr 11/ Jul 11 put spreads for .45 (1 to 1).
  • The ADV is 32514 contracts.
  • The OI is 17581 and 5725 contracts.

The volume went up in two large blocks marked spread.? This trader had to pay up to close the Apr 11 puts and is choosing to roll half as many to the Jul 11 strike.? There is still substantial OI in the Apr strike so expect to see more puts roll to that level.? The put seller is still moderately bullish.

  • IV 30 is trading for 42 %.
  • HV10 is trading for 58%.
  • IV 30 is trading below the HV 10.

Barrick Gold Corporation (Barrick) operates mines and advanced exploration and development projects. The Company operates mines or projects in Canada, the United States, the Dominican Republic, Australia, Papua New Guinea, Peru, Chile, Argentina, Zambia, Saudi Arabia and Tanzania.

 

Calls trade in VMC- possible early short call close here.

?VMC

Shares of Vulcan Materials Comp. (VMC) are down .73 to 82.50 today. ?VMC is near the upper end of the 52 week range.

  • Paper traded 4500 VMC Apr 85 calls for .60.
  • The ADV is 959 contracts.
  • The OI is 7079 contracts.

The volume went up in 1 block marked sold last with several block printing outside the range but taken down.? This trade appears to be short covering although we won?t know until the OI comes out tomorrow. This is a curious short cover with 9 days to go on a covered call.? There was heavy sweeping action on all floors with paper paying .50 prior to the block so at minimum looks short term bullish.

  • IV 30 is trading for 26%.
  • HV10 is trading for 15%.
  • IV 30 is above the HV 10.

Vulcan Materials Company is a producer of construction aggregates primarily crushed stone, sand and gravel. The Company is a producer of aggregates-based construction materials including asphalt and ready-mixed concrete.

 

Put spreads trade in DO- 3 way put spread goes up

?DO

Shares of Diamond Offshore Drilling Inc. (DO) are down .79 to 29.01 today. ??DO is near the lower end of the 52 week range.

  • Paper traded 6300 DO Apr 30 puts over May 22.5/27.5 put spreads for .30.
  • The ADV is 4565 contracts. ?
  • The OI is 6540 in Apr and less than 400 contracts for the May spread.

The volume went up in 3 blocks with the Apr puts through the bid.? This trader sold the Apr puts down, most likely closing, and reopen using lower strikes in May.? The trader is looking for lower prices for DO but has head start with the nice earlier put trade.

  • IV 30 is trading for 51%.
  • HV10 is trading for 41%.
  • IV 30 is above the HV 10.

Diamond Offshore Drilling, Inc. is a global offshore oil and gas drilling contractor. The Company has a fleet of 45 offshore drilling rigs, consisting of 33 semisubmersibles, seven jack-ups and five dynamically positioned drillships. The Company?s jack-ups include Ocean King, Ocean Nugget, Ocean Scepter, Ocean Spartan, Ocean Spur, Ocean Summit and Ocean Titan.