10000 AKS Jul29 Weekly 6 puts went up in 1 block on the PHLX marked buy write
Shares of AK Steel Holdings Corp (AK) are up .63 to 6.06 today. ?AKS is making a 52 week high.
- Paper traded 10000 AKS Jul29 Weekly 6 puts for .29. ?
- The ADV is 13249 contracts.? ?
- The open interest is 16 contracts.
The volume went up in 1 block on the PHLX marked buy write.? 1mil shares of stock went up with the puts so this is a long delta trade as printed.? The synthetic call price would be .17 for the Jul29 call and those calls are now priced .21.? This could be a short stock cover and roll but the time frame is very short on it so most likely a customer wanted to by 1 million shares so tied it to cheap puts.
- IV 30 is trading for 63%.?
- HV10 is trading for 69%.?
- IV 30 is below the HV 10.
AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company operates approximately eight steelmaking and finishing plants, over two coke plants and approximately two tube manufacturing plants across states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.