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January 25, 2013  Fri 9:17 AM CT

AET: SEE CHART GET CHAIN FIND STRATEGIES
Shares of Aetna are just off multi-month highs, but a large trade is positioning for a potential drop.

optionMONSTER systems show that a trader bought 4,000 July 43 puts for $1.11 and sold the same number of July 36 puts for $0.24. Less than 10 minutes later they did the same trade in the same size, buying the 43 puts for $1.07 and selling the 36s for $0.25.

The average cost of this put vertical spread is $0.845, which is the amount at risk if AET remains above $43 through mid-July expiration. The maximum gain of $6.155 would be made if shares are below $36 at that expiration. (See our Education section)

AET is down 0.45 percent to $49.50 this morning, a day after seeing its highest close since April 2. Shares of the health-care benefits company have been trending higher from their 52-week low under $35 set in late July, and the spread would take a full profit if the stock gives up those gains.

More than 17,000 AET options trade already this morning, more than 10 times the daily average in the last month.
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It is rare that I get a chance to give a real-life, real-time example in my articles that the readers were not only following but were actually involved in at the time the event is happening. Well, that is where we are right now in our QQQ trade from last week. Let's recap the trade itself.

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