Home Depot (HD) added 31 cents to $36.72 and puts on the home improvement retailer were actively traded yesterday. One player paid up to $1.05 for 15,000 Sep 36s. At the end of the day, 25,873 changed hands and open interest increased by 23,971 to 25,262 contracts — now the third largest position in the name. August 36 puts saw opening activity as well. The bearish trading might be a play on earnings. Home Depot is expected to report mid-August, possibly before the expiration.
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.