Alerian MLP ETF (AMLP) is trading down .17 to 17.54 today.? AMLP is trading near a 52-week high.
Today paper traded 2 large blocks of the AMLP May 17 puts for .35 on volume of 10,000 and 9,700 with scattered volume to bring the total over 20,000.? Average volume is 270 contracts per day in the name.? Open interest is 5,735 contracts in the strike.
The puts traded like an accumulating buyer trying either to lock in gains through May or bet on a near-term swoon in price.? The IV is up 3.1 points in May from 11% to 14% today.? This is a very large trade in this ETF.? The trade is about .10 higher than the quarterly dividend.
30-day implied volatility is 14%.? 10-day implied volatility is 6%.? 30-day implied volatility is trading above the 10-day historical volatility.
ALERIAN MLP ETF seeks investment results that correspond (before fees and expenses) to the price and yield performance of its underlying index, the Alerian MLP Infrastructure Index (the Index).