Options Trading News

October 9, 2013  Wed 9:12 AM CT

A trader is betting that Apollo Group will hold current levels.

optionMONSTER's tracking systems detected the sale of 2,500 November 19 puts for the bid price of $0.81 today. This is clearly a new position, as the previous open interest in the strike was just 658 contracts.

The put seller is looking for APOL to hold above $19 in coming weeks. The trader is taking on the risk of buying shares if they are below that strike price.

APOL is up 1.03 percent to $20.15 this morning, a day after seeing its lowest close in a month. Shares of the for-profit education company were last below $19 at the start of September.
Share this article with your friends

Related Stories


Puts surge in Apollo Education

November 25, 2015

The education company has consistently missed revenue expectations for more than a year, most recently when it gapped down on Oct. 22.


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 »