Boston Scientific seen holding gains
Mike Yamamoto | [email protected]
More than 5,500 January 10 puts were sold right out of the gate this morning as premiums fell from $0.63 to $0.49 in the first 20 minutes of trading, according to optionMONSTER's tracking systems. Volume was well above the strike's previous open interest of 1,366 contracts, indicating new activity.
The put sellers are looking for BSX to stay above $10 through early next year. If the stock falls below that strike price before the mid-January expiration, the traders will be on the hook to buy shares at that level. (See our Education section)
BSX is up 10.61 percent to $10.63, its highest level since September 2009. The company's second-quarter results beat consensus estimates on the top and bottom lines, and management raised its full-year outlook.
Total option volume in the name already tops 10,400 contracts, more than 6 times its full-session average for the last month.