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July 30, 2013  Tue 2:45 AM CT

BBD: SEE CHART GET CHAIN FIND STRATEGIES
Traders sold puts in Banco Bradesco yesterday for the third session in a row.

optoinMONSTER's tracking systems detected the sale of 2,657 January 11 puts at the same second for $0.55. This is clearly a new position, as open interest in the strike was only 96 contracts before the trade appeared.

The put seller is looking for the Brazilian lender to stay above $11 through expiration in mid-January. If the stock falls below that strike price, the trader will be on the hook to buy shares at that level. (See our Education section)

BBD slipped 0.95 percent yesterday to close at $12.52. The stock rose after the bank reported second-quarter results on July 22 but have drifted lower since. Shares traded above $17 in late May but plunged to to a four-year low of $11.29 on July 5.

As with previous trades, yesterday's put sale made up almost all of the option volume in BBD. The name saw similar put selling in other contracts last Friday and Thursday.

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