Shares of GGB are up .04 to 8.15.? GGB is trading near one-year lows.
Today a call spread traded 10,000 times in GGB Sep 9/10 on split prices of 47.5 over .20.? The average contract volume is 769 contracts per day in the name.? Open interest is less than 100 contracts in the Sep strikes.? The implied volatility is up .3 in Sep
The trades look to a buyer that paid closer to the offer on the spread.? This is very little open interest for any kind of reference but looks to be bullish paper. ?Earnings came out this morning, missing analyst estimates.
30-day implied volatility is 31%.? 10-day implied volatility is 29%.? 30-day implied volatility is trading above the 10-day historical volatility.
Gerdau SA (formerly Companhia Siderurgica da Guanabara – Cosigua) is a Brazil-based holding company engaged in the manufacture and sale of steel products.