Monday, December 7, 2009

Associated Banc-Corp (ASBC) - Vol Seller

ASBC is a $1.3B diversified multi-banking holding company. You can see the LIVEVOLTM Pro Summary below. Note the decline in IV30TM today.

The company averages 235 option contracts traded a day. Today, with over an hour and a half to go in the trading day, over 3,700 option contracts have traded. Further, every single trade has been a call (zero puts traded). You can see the Company Tab snap shot below (click image to enlarge).

You can see from the Options Tab (snap below) that the vast majority of these are opening orders in the Dec 10 Calls (3600+ traded vs. OI of 16). You can click the image to enlarge it.

So this is bullish right? Not so fast. You can see the largest trades of the day below from the Company Tab.

Note the red color - the options are trading on the bid. It's seems that people are selling this front month vol and not doing a whole lot else (at least today). You can see a snap shot of the vol chart (IV30TM (red) vs. HV30TM) below (click image to enlarge).

I have highlighted an area where the stock price dropped and the vol popped. That day there was unusually high one-sided opening order put buying by customers (ISE sentiment - the red bar in the volume legend at the very bottom). This one may be worth looking into - pretty one sided order flow today after a vol spike.

It's also interesting to note that this company is a relatively large holding in a number of dividend paying etf/indices (like Morningstar). TSCM ( recently posted an article about insiders at these high div payers selling stock. Hmmm...

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