Paper bought 55,000 BBD June 6 puts paying .28.? This was in addition to 55,000 traded on Friday, essentially doubling the short exposure in BBD.
Banco Bradesco SA, trading 7.48 with an IV30 of 54.70 and an HV10 of 79%, is seeing put buying today.? The stock, with an ADV of 2000 and OI of 115,000 contracts, saw a trader buy 55,000 of the June 6 puts paying .28.? This is in addition to 55,000 that were traded on Friday, essentially doubling the short exposure in BBD.
This trade could be a hedge, but could also be a direct play on BBD having continued problems.? Brazil is having all sorts of financial issues right now and this could be a trader using US markets to short Brazilian Banks.
This trade is aggressively bearish BBD and bullish BBD Volatility.