Shares of Globe Specialty Metal, GSM are trading down .12 to 14.03. The shares are trading nearer the middle of the 52-week range.
Today paper trades bought 1,000 GSM Jun 12.5 puts for 0.35. ??Average volume is 237 contracts per day.? Open interest on the puts is 2,266 contracts.
The trade looks like a buyer of puts possibly unwinding some of the open interest.
30-day implied volatility is 27%.?? 10-day implied volatility is 22%.? 30-day implied volatility is trading above the 10-day historical volatility.
Globe Specialty Metals, Inc. (GSM), is a producer of silicon metal and silicon-based alloys, with approximately 120,000 metric tons (MT) of silicon metal capacity (excluding Dow Corning Corporation?s portion of the capacity of its Alloy, West Virginia plant) and 120,000 MT of silicon-based alloys capacity.