Paper?is buying TEVA?Jan 64 puts at all ranges of price from lows near 1.12 all the way up to 1.25, all through autoexecution
Teva Pharmaceutical Industries, TEVA, was trading at 62.98, down .72, when a customer sold the Jan 64 puts on December 22 to the tune of about 7700 contracts.? TEVA has an IV30 of 27.81, HV10 of 11.37, an ADV of 11400 and OI of 392k. It looks like the customer, closing for a loss, is buying the Jan 64 puts at all ranges of price from lows near 1.12 all the way up to 1.25, all through autoexecution.? The customer now appears to be done with the trade.
This is a case where put selling can hurt a trader.? While the customers sales in the .80 and .90s seemed secure with TEVA around 66-67, with the market selling off TEVA has taken a hit and the customer had to eat between .20-.40 on his or her put sales.
This trade should be considered bearish TEVA and bullish volatility