Shares of Gerdau SA (GGB) are down .03 to 5.82 today. ?GGB is near the bottom of the 52 week range.
Today paper traded 5000 GGB Mar 5 puts at .25. ?The ADV is 1156 contracts.? The OI is less than 22 contracts.
The volume went up in 1 block.? These puts look like a wheel trade with huge open interest in the preceding terms.? The strike is still offered at .25 right now so there are more puts at that price.? UA last profiled a put seller on Jul 17th and there has been steady sellers of OTM puts in this name.
30-day implied volatility is 26%.?? 10-day implied volatility is 28%.? 30 day implied volatility is trading below the 10 realized volatility
Gerdau SA is a Brazil-based holding company engaged in the manufacture and sale of steel products.