Tower Group International Ltd (TWGP) is down .05 to 2.53 today. ?TWGP is at the bottom of the 52-week range.
Today paper traded 1260 TWGP May 2 puts for .15. ?The ADV is 775 contracts.? The OI is 532 contracts.
The volume went in one block.? Trade on the day is over 5700 contracts with put buyer in other strikes.? With the stock already at $2.5 this could be a bankruptcy trade looking for lower levels or a protective put.? IV is jumping in what were pretty dead options.
30-day implied volatility is 122%.?? 10-day implied volatility is 15%.? 30-day implied volatility is trading below the 10-day historical volatility.
Tower Group International, Ltd. (Tower), formerly Tower Group, Inc., through its subsidiaries, offers a range of commercial, specialty and personal property and casualty insurance products and services to businesses in various industries and to individuals throughout the United States.