50,000 XOP Jun16 34 puts went up in 2 blocks on the PHLX marked buy-write. ?
Shares of SPDR S&P Oil and Gas Explorers (XOP) are down .55 to 35.15. XOP is near the middle end of 52 week range.
- Paper traded 50,000 XOP Jun16 34 puts at 1.57. ???
- The ADV is 88k contracts.?
- The OI is 93000 contracts.
The volume went up in 2?blocks on the PHLX marked buy-write. ?These puts were tied to two blocks of 875k shares each with price posting on the stock through the offer.? As priced this would be a delta neutral put sale so the trader is not looking for larger moves.? There is large open interest so the trade could be a close but a just at delta neutral trade is usually opening.? The puts are trading higher with the stock down around .30 from the initial trade.
- IV 30 is trading for 28%. ?
- HV10 is trading for 31%.?
- IV 30 is trading below the HV 10.
SPDR S&P Oil & Gas Exploration & Production ETF (the Fund) seeks to replicate as closely as possible the total return performance of the S&P Oil & Gas Exploration & Production Select Industry Index.