Shares of Walter Investment Management Corp. (WAC) were down .94 to 34.06 today.? WAC is trading near the middle of the 52-week range.
Today paper traded 1,786 WAC Apr 35 calls for 1.20.? The average contract volume is over 588 contracts per day in the name, and pen interest is 2,017.
The trade went up mid-market but most of the paper has been hitting the bid into weakness with 2,020 calls trading total on the strike. The Apr IV is only .4 and a large block of the strike traded the day before at higher prices so the block is most likely closing.
30-day implied volatility is 42%.? 10-day implied volatility is 120%.? 30-day implied volatility is trading below the 10-day historical volatility.
Walter Investment Management Corp., together with its subsidiaries, is a fee-based business services provider to the residential mortgage industry.