Today’s unusual options activity includes LNCO, AWI and TITN
Calls trade in LNCO:?Big buy writer jumps in
Shares of LinnCo LLC (LNCO) are up .03 to 30.60 today.? LNCO is in the middle of the 52 week range.
Today paper traded 5000 LNCO Sep 31 calls at .40. ?
- ADV is 3,864 contracts
- OI is 1,409 contracts
The volume went up in 1 block.? This trade went up hitting the bid and is consistent with a call buy writer.? LNCO pays a big dividend so this is a yield play here.
- 30-day implied volatility is 19%. ?
- 10-day implied volatility is 25%.?
- 30-day implied volatility is trading above the 10-day realized volatility
Linn Co, LLC (Linn Co) sole purpose is to own LINN Energy, LLC (LINN) units. LINN is focused on the development and acquisition of oil and natural gas properties, which include various producing basins within the United States.
Puts trade in AWI- possible diagonal gone bad
Shares of Armstrong World Industries (AWI) are up .20 to 54.10.? AMI is in the middle of the 52 week range.
Today paper traded 749 AWI Aug 55 puts and 1061 AWI Sep 50 puts for .55. ?
- ADV is 231 contracts. ?
- OI is 838 and 1562 contracts, respectively.
Volume went up in two large blocks.? The trade as marked looked selling the Aug 55s and buying the Sep 50s.? AWI was just below 50 so a trader added this diagonal on there it was closed now for a loss.? The trade did not go up as a spread but traded within one minute of each other.? The Aug puts traded underwater so it is doubtful liquidity providers sold them there.
- 30-day implied volatility is 19%. ??
- 10-day implied volatility is 20%.?
- 30-day implied volatility is trading below the 10-day realized volatility
Armstrong World Industries, Inc. (AWI) is a global producer of flooring products and ceiling systems for use in the construction and renovation of residential, commercial and institutional buildings.
Puts trade in TITN-? cannot get enough puts to close and roll in TITN
Shares of Titan Machinery Inc (TITN) are down .16 to 13.59. TITN is at the bottom of the 52 week range.
Today paper traded 1353 TITN Sep 12.5/15 put spreads for 1.15 with a TITN Dec 12.5p for 1.10 ??
- ADV is 419 contracts.?
- OI is 3,595, 3,785 and 1,514 contracts
Volume went up in 3 big blocks.? The put spread traded on near the bid so this is most likely a long put spread owner closing and then rolling out and buying Dec. This is a continuation of a put trade we saw in UA on Aug 1st.? With TITN trading near year lows it makes sense to take profits and roll out.
- 30-day implied volatility is 53%. ?
- 10-day implied volatility is 42%.?
- 30-day implied volatility is trading above the 10-day realized volatility
Titan Machinery Inc. owns and operates a network of service agricultural and construction equipment stores in the United States and Europe. The Company operates in three segments: Agriculture, Construction and International.
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