Home Depot seen holding gains
Chris McKhann | [email protected]
optionMONSTER systems show that a block of 7,323 December 80 puts was sold for $1.28, below the listed bid price at that time. This is clearly a new position, as the volume was well above the strike's previous open interest of just 1,061 contracts.
The put selling is a bet that HD will hold above $80 in next month. The trader takes on the risk of having to buy shares if they fall below that strike price. (See our Education section)
HD is up 1.67 percent to $81. The home-improvement retailer shot up to $82.27 this morning, a new all-time high for the stock--after better-than-expected earnings.