Shares of Orbitz World Wide, Inc. (OWW) are up .06 to 9.03. ?OWW is near the middle of the 52 week range.

Today paper traded 7200 OWW Aug 7.5p and Aug 10 calls at .25. ?The ADV is 1283 contracts.? The OI is under 13000 for the calls and 3900 for the puts.

The volume went up in 2 large blocks.? The trade went up on the bid marked spread.? The seller looks like they are grabbing some premium into earnings.? With the net credit, 25, they are expecting just a small move in OWW.? Because the trade is marked spread it is most likely opening.

30-day implied volatility is 76%.?? 10-day implied volatility is 22%.? 30 day implied volatility is trading above the 10 realized volatility

Orbitz Worldwide, Inc. is a global online travel company (OTC) that uses technology to enable leisure and business travelers to research, plan and book a range of travel products and services.