Nearly 7,000 NE Jan 10 puts sold at .31 in what could be a close of a put trade on December 7
Noble Energy Corp., trading 10.30 down .52 with an IV30 of 68% and an HV10 of 56%, saw a ratio put calendar trade today.? The stock, which has an ADV of 5800 and an OI of 265k, saw a customer sell just under 7,000 of the Jan 10 puts at .31 in what could be a close of a put trade on December 7th.? Against it the customer bought 2500 of the NE Feb 10 puts for .93.? The ratio appears to be because the customer is unwilling to output a lot more dollars than what he or she has on the table, despite the roll.
This trade appears to be a case of right on direction bad on timing as NE is down over a 1.00 from the put purchase, but that the speed of the move has been a little too slow for these puts to do much better than break even.? The customer is hoping that NE has another ?leg to drop? from here.?
This trade should be considered bearish NE and bullish NE volatility.