Paper bought over 14400 TSL Jan 2018 5 puts paying .20.?
Trina Solar Limited (ADR), trading 10.44 (up 2.19) with an IV30 of 33% and an HV10 of 45.71, is seeing heavy LEAPS put action today on the heels of announcing the company is going private.? Customers bought over 14400 of the TSL Jan 2018 5 puts paying .20.? This is a stock that has an ADV of 4900 and an OI of 203,200 contracts.
This trading action appears to be customer that does not believe the private transaction will go through or be a success, it also could be merger arb traders setting up hedges to avoid getting beat badly if the deal falls apart.
This price action should be considered bullish volatllty6 and bearish TSL.