Post by Deleted on Jul 17, 2017 20:09:50 GMT
Calls 1130, puts 1468, total 2598. 8% of calls at or above ask, and 17% of puts. Put volume finished the day a bit higher than normal and put buyers were willing to pay up for the protection at a 17% rate. Almost all of the put volume are the Jan 18 and Jan 19 expirations.
Continuing to follow the big put buyer: Remember Thursday 7/6/17 someone bought 2446 July 21, 2017 puts $7 strike for 80 cents each, spending $195,000. Well, he a few days remaining until the $195,000 is gone. The bid ask is $.90 to $1.00. Its a gutsy position for sure if he is naked the puts; not as much if he is hedging his long. This trade is in the money, very slightly. Days remaining until expiration (trading days) is 4, counting today. Ignoring transaction costs, he currently has a gain of 10 cents per share, of about $24,000, assuming he could sell every option at 90 cents.
Continuing to follow the big put buyer: Remember Thursday 7/6/17 someone bought 2446 July 21, 2017 puts $7 strike for 80 cents each, spending $195,000. Well, he a few days remaining until the $195,000 is gone. The bid ask is $.90 to $1.00. Its a gutsy position for sure if he is naked the puts; not as much if he is hedging his long. This trade is in the money, very slightly. Days remaining until expiration (trading days) is 4, counting today. Ignoring transaction costs, he currently has a gain of 10 cents per share, of about $24,000, assuming he could sell every option at 90 cents.