Shares of US Airways Group (LCC) are trading lower on the session by 2.72%, trading at $12.32. The stock has been ticking higher over the past three months after a successful test and hold of the 200-day moving average back in August.
One trader looks to be taking calls off the table today. A short while ago the March $10.00 call was sold 5,929 times, on the bid, for $2.90. With open interest of 11,249 contracts, this appears to be a closing transaction.
This is one of the first cases of traders taking upside off the table in LCC. For the most part, over the past three months, traders have been strategically buying upside calls in December, Jan13, and Mar13.
30-day implied volatility is up 2.3% today to 50.63%, while 10-day realized vol is registering 32.44%.
US Airways Group, Inc. is a holding company whose primary business activity is the operation of a network air carrier through its wholly owned subsidiaries, US Airways, Piedmont Airlines, Inc., PSA Airlines, Inc., Material Services Company, Inc. and Airways Assurance Limited.?