Today in unusual options trading activity, we have a possible hedger in TCK, buying more calls in NM, and front running a buyout in IRF.
Put spreads trade in TCK- put spread buyer could be hedging
Shares of Teck Resources LTD (TCK) are up .29 to 23.14 today.? TCK is in the middle of the 52 week range.
Today paper traded 3300 TCK Nov 20/22 put spreads for .53. ?
- ADV is 2603 contracts.?
- OI is less than 2000 contracts.
Volume went up in two blocks.? This put spread traded near the offer and was most likely an opening buy.? Either the trader thinks there is a big dividend cut to be announced or this is some play against a stock position.? In order for the trade to pay TCK would have to trade near the 52 week lows.
- 30-day implied volatility is 22%.??
- 10-day implied volatility is 16%.?
- 30 day implied volatility is trading above the 10-day realized volatility.
Teck Resources Limited (Teck) is engaged in exploring for, developing and producing natural resources. Teck?s activities are organized into business units focused on copper, coal, zinc and energy.
Calls trade in NM- it looks like more call buying
Shares of Navios Maritime Holdings Inc. (NM) are up .down .02 to 9.12 today.? NM is in the middle of the 52 week range.
Today paper traded 2600 NM Sep 10 calls for .25.
- ADV is 616 contracts.?
- OI is 6000+ contracts.
Volume went up in one large block.? This trade is part of a broader volume that bid up the Sep 10 into earning trading from .21 to .25 early on today.? 6234 calls trading for volume as of this writing with IV up 6 points.? UA activity profiled buying in the NM Jan calls on Aug 14th.
- 30-day implied volatility is 47%.??
- 10-day implied volatility is 42%.
- 30-day implied volatility is trading below the 10-day realized volatility
Navios Maritime Holdings Inc. (Navios Holdings) is a global, vertically integrated seaborne shipping and logistics company which operates numerous businesses focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain.
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Calls trade in IRF- front running the buyout by Infineon
Shares of International Rectifier Corp. (IRF) are up 12.5 to 39.08 today. ?IRF is making a 52 week high.
Today paper traded 420 IRF Sep 30 calls for 1.10. ?
- ADV is 66 contracts.?
- OI is 1708 contracts.
Volume went up in 1 block.? Total volume on the strike is over 2017 contracts as most of that was buying today.? When the Sep 30?s traded 1.10 the price was a .05 through the offer so it was purchased with some haste.? Nice timing prior to the buyout announcement that was leaked by Infineon.
- 30-day implied volatility is 54%. ?
- 10-day implied volatility is 18%.?
- 30-day implied volatility is trading above the 10-day realized volatility
International Rectifier Corporation (IR) designs, manufactures and markets power management semiconductors.