Traders are buying every single ZIOP March call they can get their hands on.

ZIOP

Ziopharm Oncology Inc., trading 5.14 (up .21) with an IV30 of 175.11 (up 71 points today) and an HV10 of 75%, has earnings coming up at the end of the month.? Traders are buying every single March call they can get their hands on in this name.? The stock options have open interest of 98,500 and an ADV of 6800.? Today almost 35,000 calls have traded. The largest trade of the day being the March 8 calls bought for .25 17400 times, on the day 21,935 of these have gone up and the market is now .40-.45 in these calls.

ZIOP may have a drug trial coming up or this could be buyout or earnings related. Regardless traders are looking for a huge move in this name.? Upside demand is now so high in ZIOP that the call skew has inverted and upside calls cost more in vol terms than OTM puts.

This trade should be considered aggressively long the underlying and bullish volatility in the name