Shares of Ryman Hospitality Properties (RHP) are trading lower on the session by 0.68%, at $37.81. The stock has been on a wild ride this morning, plummeting to $35.01 before spring off of the 200-day moving average to practically unchanged.
One trader executed a large buy-write in the name today. A short while ago the December $50 straddle was sold 2,500 times, near the bid, for $12.05; the spread at the time of trade was $10.60/14.55. This short straddle was bundled with the purchase of 250,000 shares of RHP common, above the spread, for $37.90.
The trade has pushed overall options volume to 37x normal volume with 5,048 contracts traded.
30-day implied volatility fell 19.3% this morning to 34.41%, while 10-day realized vol is registering 20.35%.
Ryman Hospitality Properties, Inc., formerly Granite Hotel Properties, Inc., focused on hotel assets in urban and resort markets.?