Paper bought over 5,000 GEVO June 1 calls, 3200 Sep 1 calls, and almost 9,000 Dec 1 calls.
Gevo Inc., trading 1.07 (up .47) with an IV30 161.5% down 52 points with an HV10 of 221, is seeing customer chasing 1.00 calls.? Paper bought over 5,000 of the June 1 calls paying .15-.20; 3200 of Sep 1 calls paying .20, and almost 9,000 of the Dec 1 calls paying up to .35. This is in a name with ADV of 29 and an OI of 2300.?
Clearly the stock had news today as it?s up 77% and the IV is down 53 points.? Customers think there could be some continued upside in the name over the next few days and months.? And much of this paper might be momentum trading.
Based on the flow customers are expecting more upside and high volatility.