Volatility for Anadarko Petroleum has been dropping, and today’s big options trade looks for that trend to continue.
APC rose 0.58 percent to $69.17 in early afternoon trading. It has been in an increasingly tight range over the last month and is in the middle of the 52-eek high and low. The 30-ay historical volatility is down to 27 percent from near 50 percent six weeks ago. Ten-day price swings have abated to a 20 percent annualized rate.
Dominating the options volume in the name is one print in the February 80 calls. A trader sold 12,000 of those calls for the bid price of $2.56. This was done against open interest of 237, so it was a new position.
— Option Monster