Tenet Healthcare Corp (THC) is trading up .36 to 48.36.? THC is trading near the top of the 52-week range.
Today paper traded a block of 4,500 THC May 45/50 call spreads for 2.85.? Average volume is 1,200 contracts per day in the name.? Open interest is 4,392 contracts in the 45 strike.
The calls traded mid-market and through the offer respectively. The fact that more calls traded on the 50 strike indicates rolling some gains up buying more calls.? This is the most likely reason.
30-day implied volatility is 28%.? 10-day implied volatility is 17%.? 30-day implied volatility is trading above the 10-day historical volatility.
Tenet Healthcare Corporation, and its subsidiaries (Tenet) is an investor-owned health care services company whose subsidiaries and affiliates own and operate acute care hospitals, ambulatory surgery centers, diagnostic imaging centers and related health care facilities.