ASBC - Calls Trade

Discussion in 'Trading' started by livevol_ophir, Dec 7, 2009.

  1. livevol_ophir

    livevol_ophir ET Sponsor

    ASBC usually does about 235 option contracts a day. So far over 3,700 have traded today. Of those, zero have been puts. 3,631 have been the Dec 10 Calls (pretty much nothing else has traded). OI is just 16 in those calls.

    The Dec 10 Calls are trading on the bid - most likely customer selling. Given the vol spike after that one day stock drop (and big opening order put purchases that same day) - this may simply be a vol sale. Vol is in fact about 4 points lower today from those trades.

    I believe TSCM wrote an article recently about these high div payers and how insiders have been selling.

    I wrote all the details regarding the options action in my blog (link below) including trades, prices, snaps and vol charts.

    Any opinions about this company or those trades?