Shares of Jet Blue Airways Corp (JBLU) are down .40 to 10.03 today.? JBLU is at the upper end of the 52 week range.

Today paper traded 5000 JBLU Jan 15 10 puts for 1.10 and sold 2000 JBLU Sep 10 calls at .65.? The ADV 3933 contracts.? The OI is 7618 in Sep and 1405 on the Jan contracts.

The volume went up in 2 blocks marked spread.? The OI on the calls is pretty high but the put OI is low.? The trade looks like a protective collar (selling calls) with half of the calls open in case the stock goes for a run.

?30-day implied volatility is 33%.?? 10-day implied volatility is 22%.? 30 day implied volatility is trading above the 10 Day Historical volatility.

JetBlue Airways Corporation (JetBlue) is a passenger airline that operates primarily on point-to-point routes with its fleet of 120 Airbus A320 aircraft and 49 EMBRAER 190 aircraft.