Options Unusual Activity

Possible Ratio Call Spread Goes up in Mechel Open Joint Stock Company (MTL)


Shares of Mechel Open Joint Stock Company (MTL) are down .09 to 5.40 today.  MTL is trading .40 off of its 52-week lows.

Today the MTL Jan 2014 7 and 10 calls traded 1,000 x 4,000 on split prices of .75/.80 and .30.  The average contract volume is 930 contracts per day in the name.  Open interest is 4,232 and 31,471, respectively. The implied volatility is flat in Jan 2014.

The trade looks like a customer closing a position, but the OI number tomorrow with tell the story. I could also be a very aggressive ratio call spread.

30-day implied volatility is 58%.  10-day implied volatility is 32%.  30-day implied volatility is trading above the 10-day historical volatility.

Mechel OAO is a Russia-based integrated mining and steel company.


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About Andrew Giovinazzi


Andrew Giovinazzi was a member of both the Pacific Exchange and the Chicago Board Options Exchange where he made markets in both equity and index option classes. During that period he never had a down year. In 1991, Andrew started and ran the Designated Primary Market Maker post for Group One, ltd in Chicago. He was instrumental in creating and managing a training program that allowed Group One, ltd. to significantly grow the company. He left Group One, ltd. to co-found Henry Capital Management in 2001. He became Chief Options Strategist of Option Pit Mentoring in the Fall of 2011. Andrew has a Bachelor's degree from the University of California, Santa Cruz in Economics. To learn more about Option Pit and their mentoring services, please visit: http://www.optionpit.com/mentoring

Author's web site: http://www.optionpit.com/


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