Paper sold OAS May 9 calls at varying prices w/ the largest block a 6500 May 9 call sale at .90 tied to some stock.
Oasis Petroleum, trading 9.07 (up .93) with an IV30 of 92.30 and an HV10 of 75.13, saw call selling today.? The stock, with an ADV of 3800 and OI of 57,000, saw a customer sell the May 9 calls at varying prices totaling over 9,000.? The largest block was a 6500 May 9 call sale at .90 tied to some stock.
The customer looking at the high IV in OAS relative to movement likely sold these calls as an attempt to sell a slowdown in movement in oil names and OAS in particular.? The customer is betting that OAS is going to stay close to 9.00 a share between now and earnings which are preliminarily in May.
This trade should be considered neutral the stock and bearish volatility.