Paper bought 10,000 OHI Sep 30 puts for .75 & 240,000 shares of OHI stock for 32.83 which would be a 24 delta on these puts.?
Omega Healthcare Investors, trading 32.31 (down 1.00) with an IV30 of 24.07 (up 9 points) and an HV10 of 12.21, saw a block of puts trade tied to stock.? The stock, with an ADV of 576 and open interest of 22,640 contracts, saw a customer buy 10,000 of the September 30 puts for .75 and buy 240,000 shares of OHI stock for 32.83 which would be a 24 delta on these puts.? The trade was opening.
This appears to be a customer that thinks OHI is going to see a lot more movement in the near futures, likely lower, but wants to play more an increase in volatility than a straight directional trade.
This trade should be considered aggressively bearish the underlying and bullish volatility.