The Options Insider

Funky Aug-Nov Multi-Leg Put Roll in L BRANDS INC (LB)

by | Jul 10, 2017 | Unusual Activity

Funky Aug-Nov Multi-Leg Put Roll in L BRANDS INC (LB)

  • Paper buys 13,000 Nov 40 Puts for $2.70, OI only 916 contracts

  • Paper trades 10,000 Aug 40 Puts for $1.10 mid-market, OI = ?21,000 contracts

  • Paper also buys 5000 Aug 45 Puts for $3.30, OI = 13,000 contracts

  • Paper also trades 2000 Aug 47.5 Put for $5.005, OI = 6581 contracts

  • This looks like a customer closing out Aug put positions and re-establishing at the more cost-effective Nov 40 strike. If that?s the case then there could be a few more rolls coming in future sessions.