Learn the trade here. Make it on tradeMONSTER

Options Trading News

August 17, 2012  Fri 11:55 AM CT

CTL: SEE CHART GET CHAIN FIND STRATEGIES
CenturyLink is coming off its 52-week highs, but one trader apparently does not see the stock collapsing in the near future.

CTL is down 0.79 percent to $41.66 after trading above $43 last week. Shares of the telecom carrier have run up from support at $32 since early October.

A trader sold 3,000 September 40 puts for the bid price of $0.40, according to optionMONSTER's systems. The previous open interest was just 415 contracts, so this is a new position.

The short puts represent a bet that CTL will hold above $40 in the next month. The trader is also showing a willingness to buy shares if they are below that strike price at expiration.
Share this article with your friends


Related Stories

CTL

Limit seen on CenturyLink gains

July 29, 2014

The telecommunications carrier is up sharply today, but one trader apparently believes that further gains will be limited in coming weeks.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Education & Strategy

Why traders hedge with sector ETFs

Many people who are not familiar with options think that they increase risk, but their first and primary purpose is...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER