9000 SEAS Feb-Mar 20 put spreads traded for between 26 and 29 cents a spread.?
SeaWorld Entertainment Inc., trading 18.40 (down .09) with an IV30 of 35.01 and an HV10 of 28.07, saw a large calendar spread trade.? The stock, with ADV of 7100 and OI of 106,000 contracts, saw a trader sell the Feb 20 puts and buy the March 20 puts in what was a rolling trade.? On the day 9000 of the Feb-Mar 20 put spreads traded from a price of between the prices of 26 and 29 cents a spread.? Based on OI, the Feb?s are certainly a close, the question is whether the March puts are also a close.?
Assuming this is a roll the customer is moving a hedge at the 20 strike from well in the money further back to march.? If it?s a close close, it?s a calendar that did a little too well.?
This trade should be considered neutral the stock and bullish volatility.