Put selling sees floor in Comcast

Shares of Comcast are lower today, but one trader apparently believes that any further declines will be limited in coming weeks.

optionMONSTER systems detected the sale of 3,000 Weekly 52.50 puts that expire on Nov. 14 for the bid price of $0.26. Open interest in the strike was just 107 before the trade appeared, so it is a new position.

The put seller is looking for CMCSA to stay above $52.50 in coming weeks. The trader also takes the risk of having to buy shares if the stock falls below that strike price.

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— Option Monster

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