Prologis (PLD), a Denver-based industrial real estate company, is up 32 cents to $15.10 and it looks like an investor trades the March 14 – 16 risk-reversal, 14000X and the Mar 13 – 15 risk-reversal, 14000X, for the July 12 – 15 bearish risk-reversal, 28,600X. It probably rolls collars opened in mid and late-January, which were opened (tied to stock) on news the company was in merger talks with AMB (see 1/27 and 1/31 PLD color).