American Tower (AMT) loses 92 cents to $54.26 and is falling to session lows. Midday options action included several multi-exchange sweeps of Jun 52.5 puts. 2,508 traded at the 35-cent asking price and 1,661 at 30 cents. 7,175 now traded. Looks like downside put buying and is perhaps closing trades. Open interest in the June 52.5 put is 12,028 and currently the biggest position in the Boston, MA communication equipment company.
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.