Shares of Time Warner (TWX) are trading higher on the session by 0.59%, at $45.19. The stock has been rising over the past five months, recently forming a consolidation pattern above the 50-day moving average.
One trader is exiting their put position in TWX today. The strike in question here is the November $45.00 put, which has current open interest of 7,104 contracts. During a 5-minute period earlier in the session, a trader sold 1,805 puts across multiple exchanges, on or near the bid, for $0.60. The trader capped it all off by selling 5,195 puts for $0.59.
With total sale volume of 7,000 contracts, it seems very likely that this was an exit to an existing long put position.
This trade is moving in line with what we have seen in TWX lately. Back on September 10th, one trader sold 10,250 October $41.00 puts for $0.31; they recently expired worthless. And, on September 27th, one trader sold 5,950 December $38.00 puts for $0.27; the trade is still active in open interest, bid $0.15, at $0.20.
30-day implied volatility is off 5.6% today to 20.57%; 10-day realized vol is registering 17.14%.
Time Warner Inc. is a media and entertainment company. The company operates in three reporting segments: Networks, Filmed Entertainment and Publishing.?