Options Trading News

February 1, 2013  Fri 2:45 AM CT

Dutch financial firm ING has been working its way higher for the last eight months, and one trader is betting that it will hold its current level through the middle of this year.

optionMONSTER systems show that a trader sold 5,000 July 10 puts yesterday for the bid price of $0.80. This is clearly a new position, as the volume was more than 30 times higher than the strike's open interest of just 158 before the day's trading began.

The put selling is a bet that ING will hold above $10 through expiration in mid-July. The trader is also showing a willingness to buy shares if they are below that strike price. (See our Education section)

ING closed yesterday up fractionally at $10.08. The Netherlands-based company hit a high of $10.47 two weeks ago as it trended higher from $5.51 in early June.

More than 5,200 ING options changed hands in total yesterday, versus the daily average of 400 in the last month.
Share this article with your friends


Premium Services

Education & Strategy

The art of trading

As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

View more education articles »