Trader Sees Teva Levels Holding

As Teva Pharmaceutical tries to recover from a steep selloff last month, one trader apparently believes that any further downside will be limited.

optionMONSTER’s tracking systems detected the sale of 5,000 December 35 puts in one print for the bid price of $0.22 this morning. The volume is above previous open interest in the strike, indicating that it is a new position.

The trader will keep the $0.22 credit as profit if TEVA remains above $35 through expiration in mid-December. But if the stock falls below that strike price, he or she will be on the hook to buy shares at that level.

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