Gilead gets large vote of confidence
Chris McKhann | [email protected]
optionMONSTER systems show that this morning's volume in GILD is dominated by one trade in the July 45 puts, where 10,000 contracts went for the bid price of $1. This is clearly a new position, as the strike's open interest was just 73 before the trade appeared.
The put selling is a bet that GILD will hold above $45 through expiration in mid-July. The trader is also showing a willingness to buy the shares if they fall below that strike price. (See our Education section)
GILD is down 1.22 percent to $50.02 this morning. It hit an all-time high of $55.16 last week, more than double its 52-week low from last June.