Lehman (LEH) options are among the most actives Monday morning, as a substantial July 50/40 put spread was sold early in the day. 23,300 of the July 50 puts traded near the bid at $5.81 and the same number of 40s on the offer at $2.06. Stock hit a high of $47.35 early and has backed off to $47.16. The trade is perhaps a bullish credit spread or possibly a closing trade.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.