Shares of ALGN traded down 1.27 to 30.58 today. ?ALGN is trading $8 off of a 52-week high.
Today paper bought midsize blocks of the ALGN Apr 30 puts for .85-.9 2,000 times. ??Average volume is 853 contracts per day.? Open interest is 132 contracts.
The trade looks like a buyer of puts into stock weakness and the trade looks very good now with the puts bid 1.30.? The IV is up sharply by 4.2 pts. to 63% in Apr.
30-day implied volatility is 55%.?? 10-day implied volatility is 22%.? 30-day implied volatility is trading above the 10-day historical volatility.
Align Technology, Inc (Align) designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics, and dental records storage.