Today shares of Constellation Brands Inc. (STZ) were trading up .01 to 46.88.? The shares are trading near the 52-week high.
Today paper bought 5,000 STZ Oct 32.5 puts for 1.10.? Additionally, the STZ Apr 47.5/50 spread traded over 16,000 times on split prices, whereas the Apr 47.5s were on the buy side. ??Average volume is 44,000 contracts per day in the name.? Open interest on the call spread is over 30,000 contracts and the Oct puts have an open interest of 51.
The two trades look the opposite with one bullish (call spread) and one bearish (puts).? The call spread looks like closing paper and the puts are opening.? IV is pretty flat for the size of paper trading indicating crossed orders.
30-day implied volatility is 44%.?? 10-day implied volatility is 22%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Constellation Brands, Inc. is a wine company. The Company is a marketer of imported beer in the United States. through its investment in Crown Imports, LLC (Crown Imports), a joint venture with Grupo Modelo, S.A.B. de C.V. (Modelo) pursuant to which Modelo?s Mexican beer portfolio (the Modelo Brands) are imported, marketed and sold by the joint venture in the United States.