What’s Behind Puts in UnitedHealth

A large and unusual put trade tops today’s option activity in UnitedHealth.

optionMONSTER’s Heat Seeker system shows that a trader bought 9,452 December Weekly 71.50 puts for $1 in volume above open interest of 9,534 (after an initial trade at the 71 strike was broken). At the same time, he or she sold 9,452 January Weekly 71.50 puts that expire in three weeks for $1.51. There was no open interest at the latter strike, so that is a new position.

This could be short calendar spread, but the trader is more rolling a short-put position higher and farther out to collect more premium.

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— Option Monster

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