H&R Block Gets Vote of Confidence

H&R Block is seeing positive option activity for the second day in a row as the stock comes off seven-month lows.

Yesterday traders were buying November 27 calls, and today they are selling October 27 puts. More than 4,400 of those puts have changed hands, with the big block of 3,623 sold for the bid price of $0.35. This volume was twice the strike’s previous open interest, so it is clearly a new position.

The put seller is looking for HRB to hold above $27 through expiration. The trader also takes on the risk of having to buy shares if they are below that strike price.

Continue Reading at Option Monster

— Option Monster

You May Also Like

About the Author: Option Monster