Paper sold 18,260 SMYC Aug 20 puts, tied to stock.?
Symantec Corporation, trading 20.91 (down .01) with an IV30 of 23.91 and an HV10 of 28.80, is seeing heave put selling today in August.? The stock, with an ADV of 5400 and an OI of 170,250, saw customers sell the August 20 puts at .52 totaling 18,260 contracts, tied to stock.? The trade is opening as there are only 11 contracts open on the strike.
This is a customer that is looking to collect premium and has a belief that SYMC is unlikely to drop below 20 between now and August expiration.? With the stock tie, the customer may be replacing an existing long position with short puts, or may simply want to the trade to provide more exposure to volatility.
This trade is mildly bullish SYMC and aggressively bearish SYMC volatily.