Shares of Air Lease Corp. (AL) are down .32 to 41.47 today. ?AL is near a 52 week high.
Today paper traded 361 AL Aug 45 calls for 1.10 and 155 AL Aug 40 puts for 1.35 ? 1.40.? The ADV is 238 contracts.? The OI is 1718 and 166.
The volume went up in 4 blocks.? Trade on both strike was up sharply higher with over 600 calls and 1700 puts trading hands.? Paper looks like they closed some short puts and rolled into calls for some of the volume.? The early orders aggressively lifted the offer with follow up paper hitting the standing bids.? The markets were pretty wide at the outset so there is a substantial bid for these strikes with IV up 2 points in Aug.
30-day implied volatility is 14%.?? 10-day implied volatility is 8%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Air Lease Corporation is an aircraft leasing company.?