In several large blocks paper bought LC February 6 puts for .20 and .25.? On the day 20,425 LC puts have traded, some with stock and some outright.
Lending Club, trading at 7.26 (down .13) with an IV30 of 86.5 up 10% and an HV10 of 85.17, has earnings on Feb 11.? The stock, with an ADV of 4,700 contracts and OI of 88,000, saw a large put buyer in February.?? A trader bought in several large blocks the February 6 puts paying .20 and .25.? On the day 20,425 of these puts have traded, some with stock and some outright.
This trader believes there is a chance that LC could drop toward 6 between now Feb expiration which is only a few weeks away.? This is clearly either a hedge or an outright play on LC failing to have decent earnings.
This trade should be considered bearish LC and aggressively bullish LC volatility.