Shares of Ambac Financial Group, Inc. (AMBC) are up 2.74 to 23.42 today. AMBC is at the upper end of the 52 week range.
Today paper traded 301 AMBC Jan 20 puts at .25 371x. The ADV is 1288 contracts.? The OI is 976 contracts.
The volume came in two blocks which was part of 425 contracts on the day.? The paper was hitting the bid aggressively which means they were closing a losing trade or opening with aggressive put sales.? There was light volume buying downside puts in the May and Aug but the near term put trades were mostly sales.? The paper is likely adjusting protection for a long stock position.
30-day implied volatility is 48%. ? 10-day implied volatility is 30%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Ambac Financial Group, Inc. (Ambac) is a primarily a holding company. The Company, through its subsidiaries, provides financial guarantees and financial services to clients in both the public and private sectors worldwide.