Paper sold 10,440 NE March 11 calls at .39 untied to stock through the ISE crossing system.
Noble Corporation PLC, trading 7.26 (up .08) with an IV30 of 59.2% and an HV10 of 47.80, is seeing upside call action today.?? The stock with an ADV of 6,000 and an OI of 184,000 contracts saw a customer likely sell 10440 of the March 11 calls at .39 untied to stock through the ISE crossing system.
This is likely a customer selling calls against long NE stock.? If NE sits here, these calls would yield about 5% over the next 7 months, a little under 10% annualized.? If the stock rallies the combo of long stock and these calls could do well.
This trade is bearish volatility.