How the bears are tuning into CBS

CBS is stalling near record highs, and the bears are tuning in.

optionMONSTER’s Depth Charge monitoring system detected the purchase of 2,500 March 55 puts for $2.20 and the sale of an equal number of March 45 puts for $0.35. Volume exceeded open interest at both strikes, indicating that new positions were implemented.

The investor paid $1.85 and stands to collect $10 if the media stock closes at or below $45 on expiration–a profit of 441 percent.

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— Option Monster

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