Traders have confidence in Home Depot.
Home Depot fell today, but traders think the home-improvement stock will hold its ground.
optionMONSTER’s tracking systems show more than 7,500 of the April 79 puts have traded against open interest of just 60 contracts. The big block of 5,802 was sold for the bid price of $0.91.
The put seller is wagering the stock will remain above $79 through that April expiration. They take the risk of having to buy shares if they are below that strike and will keep the $0.91 premium as profit if remains above it.
— Option Monster