Realogy has been sliding since the year began, and the bears think more downside could be in store.
optionMONSTER’s Depth Charge monitoring program detected the purchase of 2,300 February 45 puts for $1 to $1.10. Volume surpassed previous open interest of 2,066 contracts, indicating that new positions were initiated.
The investor now has the right to sell shares in the real-estate brokerage company for $45 through expiration 2-1/2 weeks from now. Puts are used to hedge existing long positions or to speculate on a drop.
— Option Monster