Shares of General Growth Properties Inc. (GGP) are down .22 to 22.19 today. ??GGP is near the top of the 52-week range.
Today paper traded 4741 GGP Apr 22/ May 23 call spreads for .20.? The ADV is 1596 contracts.? The OI is 6329 and 516 contracts.
The volume went in two blocks.? The trade looks like a rolling buy write where the customer bought in the Apr 22 calls and sold the May 23s.? The reason most likely is the stock goes ex-D tomorrow and there was a chance of a call assignment.
30-day implied volatility is 20%.?? 10-day implied volatility is 7%.? 30-day implied volatility is trading above the 10-day historical volatility.
General Growth Properties, Inc. is a real estate investment trust (REIT).?