Shares of Mallinckrodt PLC (MNK) are up 3.13 to 64.09 today. ?MNK is near the middle of the 52-week range.
Today paper traded 8882 MNK May 60 calls for 6.0 and 7106 May 55 puts for 1.15.? The ADV is 326 contracts.? The OI is less than 500 contracts.
The volume went in two blocks.? Trade for the day was brisk on top of this strangle.? Both options went up within one minute of each other on the same exchange although the trade was not marked spread.? The calls and puts both traded closer to the offers.? There was a large Jul 70/90 call spread that traded as well and the tone of the paper is bullish, looking for larger moves.? IV is up 1-point in May.? The trades could be risk arb-related.
30-day implied volatility is 47%.?? 10-day implied volatility is 20%.? 30-day implied volatility is trading above the 10-day historical volatility.
Mallinckrodt public limited company (Mallinckrodt) is a global specialty pharmaceuticals company.