Shares of Sony Corp (SNE) are up .04 to 16.06 today.? SNE is trading near the bottom of the 52 week range.

Today paper traded 5000 SNE Jan 2015 15 puts and 18 calls at 3.80. ??The ADV is 1877 contracts.? The OI is 5600 and 3945 contracts.

The volume went up in 2 big blocks.? This trade is most of the volume on the day and the spread was marked straddle.? Both blocks went up hitting the bid so the trader is looking for not much of a range between now and Jan 2016.? The trade does offer protection on the downside to 11.20 but leaves the upside uncovered past 21.80 which is closer to the highs of the year.

30-day implied volatility is 24%.? ?10-day implied volatility is 34%.? 30 day implied volatility is trading below 10 Day Historical volatility.

SONY CORPORATION is principally engaged in the operation of imaging products and solution (IP&S), game, mobile products and communication (MP&C), home entertainment and sound (HE&S), device, movie, music, financial and other business.?