提醒：HOV 二月16号有天量的6 put， targeting $5.65# Stock
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Put volume popped on Hovnanian Enterprises, Inc. (NYSE:HOV - 6.76) on Monday
, with 6,305 contracts crossing the tape -- representing more than three
times the housing stock's average daily activity. Most of the action took
place at HOV's February 6 put, where 4,172 contracts were traded. Roughly
two-thirds of these puts changed hands at the ask price, suggesting they
were purchased, and open interest at this strike ballooned by 4,104
contracts overnight. Based on this data, it's safe to assume new bearish
bets were initiated here on Monday.
By buying to open the builder's February 6 put, traders are betting on the
stock to backpedal over the next couple of months. The contracts traded at a
volume-weighted average price (VWAP) of $0.35, which means these put buyers
need HOV to drop below breakeven at $5.65 (strike price less premium paid)
by the time February-dated options expire. The shares settled Monday at $6.
76, so option bears are looking for HOV to shed more than 16.4% before the
closing bell sounds on Friday, Feb. 15.
The day's uptick in bearish speculation coinc
, with 6,305 contracts crossing the tape -- representing more than three
times the housing stock's average daily activity. Most of the action took
place at HOV's February 6 put, where 4,172 contracts were traded. Roughly
two-thirds of these puts changed hands at the ask price, suggesting they
were purchased, and open interest at this strike ballooned by 4,104
contracts overnight. Based on this data, it's safe to assume new bearish
bets were initiated here on Monday.
By buying to open the builder's February 6 put, traders are betting on the
stock to backpedal over the next couple of months. The contracts traded at a
volume-weighted average price (VWAP) of $0.35, which means these put buyers
need HOV to drop below breakeven at $5.65 (strike price less premium paid)
by the time February-dated options expire. The shares settled Monday at $6.
76, so option bears are looking for HOV to shed more than 16.4% before the
closing bell sounds on Friday, Feb. 15.
The day's uptick in bearish speculation coinc
