Options Unusual Activity

Puts Trade in LAD


Shares of the Lithia Motors Inc. (LAD) are trading up 1.39 to 68.10.  LAD is trading close to the top of 52 week range.

Today paper traded the LAD Mar 65 puts for 6.10-6.20 389x.  ADV is 221 contracts. Open interest is 218 contracts.

The volume went up in mostly small blocks lifting the offer at the time in a stock with very wide markets.  Most likely this is opening paper since the OI is lower.  This is a either a protective put play locking in a big gain or a straight short play.  Either is likely since LAD is up from 27.60 this year.

30-day implied volatility is 30%.   10-day implied volatility is 26%.  30 day implied volatility is trading below the 10 Day Historical volatility.

Lithia Motors, Inc. is an operator of automotive franchises and a retailer of new and used vehicles and services.


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