Shares of Hercules Offshore, Inc. (HERO) are trading up .04 to 6.13 today. HERO is at the bottom of the 52 week range.
Today paper traded HERO Apr 8 combo 8,241 for prices around 1.77. The ADV is 988 contracts.? The OI is 7933 on the calls and 1512 on the puts.
The volume came in two blocks of large size with similar trade and size going up in Jan.? The 7 strike looks like a Jelly Roll (combo swap) based on the open interest but the put volume in the 8 strike appears new.? The 8 strike call side looks buy which would indication a long combo that is looking for more upside.? The trader looks like they want to maintain a long position.
30-day implied volatility is 41%. ? 10-day implied volatility is 33%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Hercules Offshore, Inc. (Hercules Offshore) provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry globally.