Shares of Global X FTSE Greece 20 ETF (GREK) are down .75 to 20.53 today.? ?GREK is near the middle of the 52 week range.

Today paper traded 4000 GREK Sep 23/24 call spreads for .15. ?The ADV is 891 contracts. The OI is 73 contracts on the 23 line and 5060 contracts on the 24 line.

The volume went up in 2 large blocks.? The spread traded over 5400x.? The 23 side traded closer to the offer so the spread is most likely a long call spread.? With the OI just shy on the 24s the whole spread is probably opening.?

30-day implied volatility is 40%.?? 10-day implied volatility is 28%.? 30 day implied volatility is trading above the 10 Day Historical volatility.

Global X FTSE Greece 20 ETF (GREK) tracks the major stocks in the Greek stock market.