Why one trader is selling puts in Visa

Visa is not far the all-time highs it reached last week, and a large trader sees current levels holding.

V is down 0.3 percent to trade at $123.29 today. Shares of the credit-card giant have doubled since late 2010 and peaked at $127.47 last Thursday.

More than 5,000 July 120 puts have changed hands against open interest of 2,395 contracts, according to optionMONSTER’s systems. A large print of 3,891 was sold for $0.80.

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— Option Monster

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