Shares of Chemtura Corp. (CHMT) are up .03 to 25.98 today.? CMHT is near the upper end of the 52-week range.
Today paper traded 9746 CHMT Mar 25 calls over Jun 25 calls for a 1.10 credit.? ADV is 660.? The OI is 16686 over 7390 contracts.
The roll plus went up in 2 large blocks with a 7310 contract lots of puts going up on the 22.5 strike..? There was subsequent call volume but the call spread looks like a roll as the customer builds up to 16k+ contracts.? The puts traded in the middle of the market and would be a buy to stay consistent with the short call side.? There is no bid for the Mar 22.5 puts so they look like they are going to expire if this was the other side of the roll.? If it is a collar, there is pretty small yield in it.
30-day implied volatility is 27%.? ?10-day implied volatility is 18%.? 30-day implied volatility is trading above the 10-day historical volatility.
Chemtura Corporation (Chemtura) is a diversified global developer, manufacturer and marketer of performance-driven engineered specialty chemicals.