Ironwood Pharmaceuticals has been sitting at a key level, and one investor thinks support will hold.
optionMONSTER’s tracking programs detected the sale of 5,000 September 12.50 puts for $0.40. Volume dwarfed previous positioning of 130 contracts, so this was a new opening trade.
The put seller is looking for IRWD to remain above the $12.50 strike price in over the next five weeks. If it does, they keep the premium as profit. Under that level, he or she must buy shares.
Photo: Medical Drugs for Pharmacy Health Shop of Medicine by epSos.de
— Option Monster