Shares of The Williams Companies (WMB) are trading higher on the session by 1.36%, trading at $34.91. The stock has been moving largely higher over the past four months, though it is currently testing the 50-day moving average support level.
One trader is taking advantage of the recent dip in WMB to sell an awful lot of downside puts. A short while ago the November $32.00 put was sold 24,458 times, on the bid, for $0.41. Given the current open interest at 9,218 contracts, this is clearly new positioning.
The trade has pushed overall put volume to 8.9x normal volume with 29,177 contracts traded.
30-day implied vol is dropping 1.5% today to 35.62%; 10-day historical vol remains at 25.19%. At $0.41, the Nov $32 puts were sold at 39% vol.
The Williams Companies, Inc. is an energy infrastructure company focused on connecting North America’s hydrocarbon resource plays to markets for natural gas, natural gas liquids (NGLs), and olefins.?