Lehman Brothers Holdings Inc (LEH) $36.11 -6.62%
Lehman Bros. (LEH) put options are active after the Wall Street Journal reported that David Einhorn, the well respected manager of Greenlight Capital, gave a negative assessment of Lehmans earnings. The comments came in a speech to an audience of high profile investors yesterday. Einhorn, who is short the stock, takes issue with substantial unrealized gains booked in the first quarter related to securities that don’t trade publicly. LEH fell 2.7 percent as talk made the rounds Thursday. Today, shares are down another $1.57 to $36.93 and 33,000 put options have traded, or 7 times the number of calls. However, a lot of the days activity seems to be put selling. For example, 82 percent of the July 35 puts, which are among the days most actives, are trading on the bid.
Category: All Stocks, Financial Services, Large Cap Stocks
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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.
