Paper bought over 6500 GGP Feb 21.74 puts for .15. Based on OI, this trade is opening.
General Growth Properties Inc., trading 26.16 with an IV30 of 25.50 and an HV10 of 29.45, is seeing put action today.? A trader bought, through autoexection, over 6500 of the Feb 21.74 puts for .15.? This is a stock that trades 2,960 options a day and has open interest of 84,000.? Based on OI, this trade is opening.
This trade is likely a hedge set up against stock where the investor is protection his or her downside ahead of earnings (which are around the end of January).? It also could be a play on an outside move of down 20% in the name, although the former is the more likely.
This trade is bearish GGP and bullish volatility.