Shares of the First Majestic Silver Corp. (AG) are up .44 to 11.61.? AG is in the middle of the 52 week range.

Today paper traded 7743 AG July 12.5 puts at 1.95-2.05.? The ADV is 1804 contracts.? The OI is 159 contracts.

The volume went up in multiple midsize blocks as seller came in to hit the bid.? Selling ITM puts like this is an aggressive way to get long an underlying security on opening paper.? The trader is looking to get long about $1 under the stock price.? IV is down 2.5 points in July.

30-day implied volatility is 46%. ? 10-day implied volatility is 41%.? 30 day implied volatility is trading above the 10 Day Historical volatility.

First Majestic Silver Corp. (First Majestic) is engaged in acquiring, exploring and developing silver properties and producing silver in Mexico.?