Paper sold over 22,000 GE Jan 30 puts against open interest of just over 140,000 contracts.?
General Electric Company, currently trading 31.69 with an IV30 of 17.21 with an HV10 of 11.56, is seeing bullish put selling today.? The stock, with an ADV of 76,500 and an OI of 2.335 million contracts, saw a customer sell over 22,000 of the Jan 30 puts at .10 against open interest of just over 140,000 contracts.? While this could be closing a hedge, this appears to be an income sale as these expire before GE earnings on the 20th.
This customer appears to think that GE is not going to drop below 30 dollars a share, and if it does he or she is willing to take delivery on GE stock.? If GE stock stays above 30 the trader keeps his 220,000 in premium he or she sold.
This trade is mildly bullish GE and bearish volatility.