Why one trader is selling puts in USG

Building-materials company USG is pulling off its highs, but put selling sees little to no downside ahead.

USG is down 1.97 percent to $19.37. The stock was at an intraday high of $20.98 last week with the closing highs coming earlier in the month. Shares have run up from a 52-week low of $5.75 set in October.

optionMONSTER’s systems show that a trader sold 5,300 August 19 puts for the bid price of $1 in a single print. Open interest in the strike was 470 contracts at the beginning of the day, so this is a new position.

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— Option Monster

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