Traders are unloading AMAT Jan 17 calls at levels varying from .20 all the way down to .09 a contract.?
Applied Materials Inc., trading 16.55 down .20 with an IV30 of 32.75 and an HV10 of 26.50, was seeing a large amount of call sweeping today.? Traders are unloading on the Jan 17 calls at levels varying from .20 all the way down to .09 a contract.? The stock with ADV of 15,500 and an open interest of 413,000 has seen about 6600 of these trade along with another 5400 of the 16.5 calls (although those appear to be buyers not sellers).? Open interest is about 29,000 contracts.
These appear to be a long taking advantage of some residual value in the Jan 17 calls looking to overwrite some premium against a long position or it could be a close.
This trade should be considered a bearish volatility and neutral AMAT