McGraw Hill Companies Inc (MHP) $43.86 +6.46%
McGraw Hill Companies (MHP) puts are active. Shares are trading up $2.56 to $43.76 the day after the Wall Street Journal reported that the credit rating agencies [MHP, Moody's (MCO)] are near a settlement with the NY Attorney General. The deal is likely to include changes to way the agencies are paid, but could also limit the damage. Yet, while shares are rebounding, the sentiment in the options market is less bullish. In fact, it appears that at least one spread trader set up a bearish spread including the purchase of roughly 10,000 of the MHP January 40 puts and the sale of the January 30s.
Category: All Stocks, Large Cap Stocks, Media
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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.
