How one investor is hedging Dover

A three-way combination trade is apparently extending a hedge on shares of Dover.

optionMONSTER systems show that a trader bought 2,660 December 90 calls for $2.18 against previous open interest of 4,135. At the same time, he or she sold 2,660 March 90 calls for $5.56 and bought the same number of March 80 puts for $0.78.

The March volumes were above the previous open interests at those strikes, indicating that they are new positions.

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