I can’t figure this one out folks…. but I don’t like it.
Remember, LPS allegedly may be in some trouble on a suit that I’ve written on before.
Well, the other day we saw this:
What I was interested in was whether those PUTties “stuck” – that is, were they taken off, were they someone daytrading something, or were they an addition to an existing position. With the O/I close to the trade volume, there was no way to know.
Until now.
Oh look, they stuck! And that was a well-over $1 million bet too.
I don’t see anything else in the option chain that looks particularly interesting…… one wonders if that’s a hedge or someone who thinks they know something.
Disclosure: No position… but that’s one of those bets that pays a bit better than 10:1 if you’re right, and is expensive enough if you’re wrong that you’re going to regret it.
