Big Put Selling in 21st-Century Fox

A large trade is looking for Twenty-First Century Fox to hold current levels.

optionMONSTER’s tracking systems detected the sale of 10,607 October 32 puts in a single print for $0.30. This is clearly a new position, as its volume was far above the strike’s open interest of 1,388 contracts before the trade appeared

The put seller is betting that FOXA to stay above $32 through expiration in mid-October, at which time he or she would keep the $0.30 credit as profit. If it falls below that level, the trader will be on the hook to buy shares in the media and entertainment company.

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