Paper bought just over 5,000 CSX July 25/26 put spreads on the day.
CSX Corp., trading 26.96 (up .29) with an IV30 of 27.67 and an HV10 of 37%, saw a put spread buyer today.? The stock, with an ADV of 7200 and open interest of 206,000, had a customer buy the July 26 puts for .19 and then sell the July 25 puts at .06 creating a put spread for .13.? The customer bought just over 5,000 of these on the day.
CSX has earnings on the 13th, thus this appears to be a direct hedge against an earnings miss for CSX the customer seems to be worried that CSX could drop below 26 bucks a share but not much below 25 dollars a share.
The trade is bearish the underlying and mildly bullish volatility.