OptionsHouse

Options Trading News

June 26, 2013  Wed 3:47 AM CT

ENDP: SEE CHART GET CHAIN FIND STRATEGIES
One trader is calling a floor in shares of Endo Health Solutions.

optionMONSTER systems show that one print in the January 30 puts was responsible for almost all of yesterday's option volume in ENDP. A trader sold 3,000 of those puts in one print for $1.45 in volume far above the strike's previous open interest of just 258, clearly a new position.

The put selling is a bet that ENDP will hold up above $30 through the end of the year. The trader is also showing the willingness to buy shares if they are below the strike. (See our Education section)

ENDP rose 0.32 percent yesterday to close at $37.31. Shares of the pharmaceutical and health-care company, which were at a high just shy of $40 last week, last closed below $30 on the first day of March and was down at $25 at the start of the year.

Total option volume in the name was nearly double its daily average for the last month.
Share this article with your friends


Related Stories

ENDP

Trader extends bullish position in Endo

May 23, 2016

A large investor is apparently willing to wait for a rebound in the Dublin-based drug maker, which has plummeted 71 percent in the last three months.

OptionsHouse

Premium Services

Education & Strategy

Timing the Trade

Both break outs and a break downs need to have a couple things happen before it is considered a confirmed break out or break down by technical definition!  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 »