Petsmart Inc. (PETM) is trading down .71 to 67.47.? PETM is trading $5 off of its 52-week high.
Paper traded a large put spread for 1.30 in the PETM Apr 60/65 strikes 1000 times.? Total volume on the strikes was over 2,500 with scattered put spread buyers coming into the market. ?Average contract volume is over 613 contracts per day in the name.? Open interest is just over 500 contracts in the strike.? The implied volatility is up 4 points in Apr. This trade looks to be a large buyer of the put spreads betting on a fall in price.
30-day implied volatility is 19.62%.?? 10-day implied volatility is 18.62%.? 30-day implied volatility is trading just above the 10 day historical volatility.
PetSmart, Inc. supplies products, services and solutions for the lifetime needs of pets.