Shares of Eagle Materials, Inc. (EXP) are up .83 to 80.35 today.? EXP is making a 52-week high.
Today paper traded 450 EXP Feb 75 puts for 1.30.? ADV is 1,078 contracts.? The OI is 87 contracts.
The volume went up tagged as a buywrite.? That would mean a seller of options and stock into earnings which would be an aggressive short contract position.? The volume is now closer to 1892 with most of the paper buying puts throughout the day.? The bet here is probably to protect a long against the 52 week high going into earnings.? There is almost no volume in EXP but this strike.
?30-day implied volatility is 33%.? ?10-day implied volatility is 23%.? 30-day implied volatility is trading above the 10-day historical volatility.
Eagle Materials Inc. manufactures and distributes gypsum wallboard and also manufactures and sells cement.