Shares of SPDR KBW Regional Banking ETF are up .26 to 40.72.?? KRE is near a 52 week high.
Today paper traded 4000 KRE Jun 40 and 41 calls for 1.77 and 1.24.? ADV is 4887 contracts.? The OI is 18322 and 670 contracts.
The volume went in two blocks mid-market.? Just over 8000 calls traded in each strike and the paper looks like closing on the 40 strike and opening on the 41.? The trade went up on one floor so most likely it is part of one order trading in not held fashion.? If there is a trend in the print the 40 calls are trading closer to the bid so this could be a long holder exiting and moving to a higher strike.? The KRE just made a run from $37 so the long close makes more sense. The IV is flat on the day which is consistent with a spread type trade of this size.
30-day implied volatility is 18%.? ?10-day implied volatility is 16%.? 30 day implied volatility is trading above the 10 Day Historical
SPDR KBW Regional Banking ETF, formerly SPDR S&P Regional Banking ETF, seeks to closely match the returns and characteristics of the S&P Regional Banks Select Industry Index.