AT&T is Facing Downside Position

A large put trade is positioning for a potential drop in AT&T.

optionMONSTER systems show that a block of 10,000 June 35 puts were sold for the bid price of $0.09 against previous open interest of 83,926. At the same time, 10,000 July 35 puts were bought in one print for $0.28 in volume well above that strike’s open interest of 1,169 contracts, so it is clearly a new position.

The trader is rolling the June put position forward by a month before it expires at the end of this week. This puts could be an outright bearish play or a hedge against long shares.

Continue Reading at Option Monster

— Option Monster

You May Also Like

About the Author: Option Monster