Support for New Oriental Education
Mike Yamamoto | [email protected]
optionMONSTER systems show that a trader sold two blocks of 2,212 and 2,211 July 17 puts seconds apart for $0.35 and $0.30 respectively. This is clearly a new position, as open interest in the strike was 1,145 contracts before the session began.
The put seller is looking for the Chinese education company to hold above $17 through expiration in mid-July. The trader also faces the potential requirement to buy shares at that level if the stock falls below it. (See our Education section)
EDU is up 0.4 percent to $20.25 this afternoon. Shares bounced off support around $15 in mid-March and have been climbing this week.