US Airways (LCC) adds 34 cents to $12.37 and a Sep 8 – $12 put spread recently trades on the stock for $1.18, 2000X. It’s possibly a position adjustment, as open interest is sufficient to cover in both contracts. Or it might be designed to hedge recent gains after the 144 percent year-to-date surge in the underlying.
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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.