Paper sold to open 15,000 INVA Dec 12.5 puts tied to 200,000 shares of stock.
Innovia Inc., trading 13.00 with an IV30 of 46.60 and an HV10 of 52.60, saw a large put sale tied to stock.? The stock, with an ADV of 693 contracts and OI of 35,800 contracts, had a customer sell to open 15,000 of the December 12.5 puts at 1.05 tied to 200,000 shares of stock at 12.90 an underweight delta.? This trade was an opening sale.
This appears to be a customer that is looking to sell puts to get into INVA or to collect the 1.05 of premium between now and expiration.??? More likely this is a premium harvest based on the light delta of the trade.
This trade is bearish vol and mildly bullish INVA.