LyondellBasell Industries NV (LYB) is trading down .50 to 63.58 today.? The shares are trading just off a 52-week high.
Today paper sold the LYB Mar 65 calls on prices from .60 to .10 with total volume around 12,590 contracts with most calls trading on the bid. ??Average volume is 4,932 contracts per day in the name.? Open interest is over 20,000 contracts on the strike.
The trade looks like scattered sellers exiting a position with time running out to expiration.? LYB look set to make new highs but ran out of steam.? The IV is in near 10 points today in Mar as the bid for the calls eroded.
30-day implied volatility is 27%.?? 10-day implied volatility is 17%.? 30-day implied volatility is trading well above the 10-day historical volatility.
LyondellBasell Industries N.V. is an independent chemical company.