Gentex Corporation is currently trading at $17.49 (up $1.14) and with an IV30 of 20.05.
- GNTX is seeing lots of bearish put action today.
- Traders have bought over 5100 of the May 12.5 puts paying up to $.35.
- Traders also purchased nearly 3,000 of the May 10 puts paying up to $.25.
- These appear to be outright purchases, bought in sweeping action across multiple exchanges.
- The customer was in hurry to buy these puts and clearly does not think today’s earnings report will not follow through.
- This trade should be considered aggressively bearish the underlying and bullish volatility.