Huntsman (HUN) adds 21 cents to $11.42 and a May 8 – 10 bearish risk-reversal trades on the stock at $1.68, 15000X to open. It was tied to 1.5 million shares at $11.32 and part of a collar trade on the Salt Lake City, UT chemicals company. The new position is being initiated after a one-month 17.8 percent advance in the share price. The stock didn’t perform well last year, however. HUN lost 33.9 percent in 2011 and closed the year at $10 per share.
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.