As American International Group continues its recent decline, one trader is looking for lower volatility in the insurance giant's shares.
optionMONSTER systems show that a trader sold 10,000 June 41 calls in one print for $0.89. This is an opening position, as this is a new expiration.
A block of 425,000 AIG shares traded a minute later for $38.6694. The combination of stock and options is apparently creating a short-volatility play. (See our Education section)
AIG closed at $38.60, down 0.95 percent on the day. The stock traded near $40 last week but has given up ground since then. Its close of $39.58 on March 8 was the highest in two years.
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A complex call strategy dominated Friday's option action in American International Group as the insurance giant continued to trade sideways.
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