CBS is stalling near record highs, and the bears are tuning in.
optionMONSTER’s Depth Charge monitoring system detected the purchase of 2,500 March 55 puts for $2.20 and the sale of an equal number of March 45 puts for $0.35. Volume exceeded open interest at both strikes, indicating that new positions were implemented.
The investor paid $1.85 and stands to collect $10 if the media stock closes at or below $45 on expiration–a profit of 441 percent.
— Option Monster