Learn the trade here. Make it on tradeMONSTER

Options Trading News

September 19, 2012  Wed 9:50 AM CT

CBS: SEE CHART GET CHAIN FIND STRATEGIES
CBS has been on a scorching run for years, but one trader is betting on a small pullback by the end of the week.

optionMONSTER's Depth Charge system detected the purchase of 2,000 September 37 puts for $0.41 to $0.47 in 4 minutes this morning. Open interest was 606 contracts at the start of the session, so this is new buying.

CBS is fractionally higher today at $36.62, apparently stalling at resistance around $37 this month. The media company is up more than tenfold since trading near $3 in March 2009 at the height of the financial crisis.

The long puts would turn a profit if the stock falls modestly from today's levels by expiration at Friday's close. The volume isn't huge, but overall puts do outnumber calls in the name by nearly 7 to 1 so far. (See our Education section)
Share this article with your friends


Related Stories

CBS

What's behind huge calls in CBS

June 23, 2014

An enormous short-term call trade topped the media company's option activity at the end of last week, and there are two possible strategies behind the trade.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Free Webinars

Join The 100k Challenge: Turn 3k into 100k

Education & Strategy

Why the VIX isn't 'broken'

For months there has been lots of talk about complacency and the "broken" CBOE Volatility Index, but both discussions are...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER