Shares of Chemtura Corp (CHMT) are down .72 to 24 today.? CHMT is in the middle of the 52 week range.
Today paper traded 5000 CHMT Jun 25 calls for .35. ?The ADV is 1290 contracts.? The OI is 18180.
The volume went up in one block .05 off of the ask price.? With the high OI this trade is most likely a short closing call.? The customer is taking the pull back in the stock as an opportunity to close some short calls which would indicate they think this drawdown is short lived.? Look for more of the OI to trade.
?30-day implied volatility is 27%.?? 10-day implied volatility is 32%.? 30 day implied volatility is trading below the 10 Day Historical volatility.
Chemtura Corporation (Chemtura) is a diversified global developer, manufacturer and marketer of performance-driven engineered specialty chemicals.