Shares of Pioneer Energy Services Corp (PES) are down .15 to 8.35.? The shares are trading nearer the 52-week high.
Today paper traded two spreads in the PES Sep 5/7.5 puts and Sep 10/12.5 calls on different prices. ??Average volume is 220 contracts per day in the name.? Open interest is less than 400 contracts for all the strikes.
The trades printed just in the middle, but did look like the put spread was sold and the call spread was purchased, which would make the trade a modified risk reversal for about a .10 credit.? The IV move was light at up 1.1 in Sep.
30-day implied volatility is 47%.?? 10-day implied volatility is 36%.? 30-day implied volatility is trading above the 10-day historical volatility.
Pioneer Energy Services Corp. provides drilling and production services to independent oil and gas exploration and production companies throughout much of the onshore oil and gas producing regions of the United States and internationally in Colombia.