Paper sold just over 17,000 AMJ July 31 calls at 1.00 untied to stock.
JP Morgan Alerian MLP Index ETF, trading 31.38 (down .19) with an IV30 of 26.92 up 1.2 and an HV10 of 18.77, is seeing a large call seller.? A customer appears to have sold just over 17,000 of the AMJ July 31 calls at 1.00 untied to stock.? In a name that has an ADV of 4100 and an OI of 225,000 contracts, 16,901 traded in one block.? The open interest on that strike is also just over 17,000 with a large block that traded on June 13, so this could be a close.
This may be a long holder of AMJ that is overwriting calls against his or her position.? It also could be a close from last week.? Regardless, AMJ has had a nice rally and this appears to be someone willing to bet on it slowing down by July.
This trade is bearish AMJ and AMJ volatility.