by Houghton and Atkeson 06/27/08
The market has been crushed this month -- it was the worst June since the Great Depression.
Not surprisingly, there has been a ton of put activity as investors have been hedging long positions. In essence, investors have been buying insurance. We saw a few notable put trades today that could also be hedges, but their volume is unusual enough that it has caught our attention at Big Money Options:
Puts in The Geo Group (GEO), have traded 27 times their usual volume, with buyers snapping up 1,000 GEO July 22.50 Puts (GEOSX).
For MSC Industrial Direct (MSM), 1,900 MSM July 45 Puts (MSMSI) have traded. That's 13 times the usual volume, with earnings scheduled for the morning of July 1, and the stock at 45.43.
And in Activision (ATVI), 8,400 ATVI Jan 40 Puts (AQVMH) have traded with volume that is 11 times the usual level.
Spend some time doing a little homework this weekend, especially, if you are long these stocks.
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