Marathon Petroleum Corp, was trading at 79.50, up 1.42, when a large put buyer came in.? A trader has thus far bought 7700 of the Jan 75 puts paying 4.90.? This appears to be tied to stock.? This is likely a trader that wants to own the stock and collect the dividend but has some fear of a large drop in the underlying.
Traders do a married put vs long call typically when they want the div income.? This trade should be viewed as bullish the underlying and actually bullish volatility.? This trader would not have execute the trade if he or she did not think there was significant upside in the name.
Trader looking to piggy back could look at the Jan 85/95 call spread for around 2.50 which has a 3 to 1 pay out and costs about half the price of the married put.