Calls Roll In CSTM
Shares of Constellium NV (CSTM) is up .17 to 30.92. CSTM is near the top of the 52 week range..
Today paper traded 591 CSTM May 30/Nov 35 call spreads for .10. The ADV is 782 contracts.? The OI is 8778 in May and 453 in Nov.
The volume went up in two blocks marked spread.? With the large OI in the front month the trader looks like they are trying to roll a large buy write.? There is probably 6000 more to trade since the volume today on the strikes is near 2000 each.
30-day implied volatility is 34%.?? 10-day implied volatility is 23%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Constellium N.V., formerly Constellium Holdco BV, is a Netherlands-based company, which is engaged in the manufacture of aluminum products and solutions. The Company is a supplier of such sectors as: aerospace, automotive and packaging.