3000/4000 COP Apr21 47/50 call spreads went up in 2 blocks on the PHLX
Shares of the ConocoPhillips (COP) are up 3.63 to 49.60 today.? COP is near the top of the 52 week range.
- Paper traded 3000/4000 COP Apr21 47/50 call spreads for 2.85 over .84.
- ?The ADV is 17k contracts.?
- The OI is 4288 and 13534 contracts.
The volume went up in 2 blocks on the PHLX marked spread. ?This could be a closing ratio trade where the customer was long the 47s and Short the 50s.? If so, the jump was probably too much today and they opted to close.? If they are rolling up to the 50s, they expect more of a run higher.? Either way the expectation is for more rally.
- IV 30 is trading for 24%. ?
- HV10 is trading for 18%.?
- IV 30 is trading above the HV 10.
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids.