tradeMONSTER: Trade free for 90 days

Options Trading News

May 7, 2013  Tue 9:40 AM CT

LOW: SEE CHART GET CHAIN FIND STRATEGIES
Lowe's is pulling back from an all-time high today, but one trader is betting that the home-improvement retailer will hold at current levels.

optionMONSTER systems detected the sale of two blocks of 3,000 June 39 puts for $0.88 and $0.87. The previous open interest had been just 894, so that was a new position.

The put selling is a bet that LOW will hold above $39 through expiration in mid-June. If it does not, the trader will face the obligation to buy the shares. (See our Education section)

LOW is down 1.05 percent to $40.38 after hitting a lifetime peak of $41.14 this morning. Shares were below $39 last week and under $32 in November.

Total option volume in the name has already reached 10,000 contracts so far today, topping its total daily average in the last month. 
Share this article with your friends


Invest Like a Monster - Las Vegas: March 13-14

Premium Services

Archived Webinar

The Art of Trading: Forgiving the Spread

Education & Strategy

Know thy Greeks!

One of the most important roles played by the Option Pricing Model is the calculation of an important family of...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER