Shares of Iridium Communications Inc. (IRDM) are trading up .01 to 7.00.? TLT is trading near one-month lows.
Today a call buyer bought the IRDM Mar 7.5 calls for .15 and stepped up to .20.? The average contract volume is 386 contracts per day in the name.? Open interest is 1,508 in the Mar strike.? The implied volatility is up 11 points in March.
The trades look to a buyer that paid .15 and then paid .20 on a posted bid for volume of 1,348 contracts so far.? There is enough open interest to suggest this is a closing transaction prior to earnings.
30-day implied volatility is 50%.? 10-day implied volatility is 21%.? 30 day implied volatility is trading well above the 10 day historical volatility.
Iridium Communications Inc. is a provider of mobile voice and data communications services via satellite.