Verso Paper Corp (VRS) is trading down .03 to 2.68 today.? VRS is in the middle of the 52 week range.
Today paper traded 5000 VRS Dec 2.5/5 call spread at .45-50. The ADV is 968 contracts.? The OI is 0 contracts.
The volume went up in several blocks market spread.? An early .75 bid in the Dec 2.5 calls was sold down and most of the trade went up at .70 on the 2.5s.? This means in all likelihood the call spread was an opening sale.? Usually an ATM call sale like this far out is a covered call sale which is called a ?slingshot? in case the underlying takes off.
30-day implied volatility is 100%.?? 10-day implied volatility is 65%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Verso Paper Corp. (Verso Paper) is a holding company.?