Tele Norte Leste Partcipacoes (TNE) $23.21 -1.65%
Bearish volume spike in Brazilian telecom TNE today, with an institutional customer paying $1.50 for 2000 Jan-09 20 Puts on the CBOE. Stock currently near 23.50, near the middle of its 52w range 17.63 – 28.14, and today’s put trade is by far the largest year-to-date in this normally thin name. This block trade may hedge a long-stock position, or be part of a larger structured transaction.
Category: All Stocks, Fixed Line Telecommunications, Mid Cap Stocks
About the Author (Author Profile)
Henry Schwartz is the president of Trade Alert LLC, a provider of real-time options analysis tools to leading Wall Street firms. His systems analyze hundreds of thousands of transactions per second to help professionals identify and interpret market activity in real time, supporting informed trading decisions and intelligent idea generation. He has held institutional trading and management roles with Bank of America, Bear Stearns, Salomon Brothers and the Hull Group, and made markets on the CBOE and AMEX floors in the US, and EUREX and MONEP overseas. Prior to founding Trade Alert, he led the electronic market-making group at Bank of America coincident with the launch of the International Securities Exchange. He received his bachelor’s degree in Economics from the University of California, San Diego and his MBA from NYU’s Stern School of Business.

