Large Put Spread Purchased in FITB

Fifth Third Bancorp FITB shares are attempting to break out through their short term resistance level (see chart below) and it looks like one investor is rolling up a defensive put spread. The January 2013 12.5-15 spread has traded 10,000 times with the 15 strike purchase being an opening position. This mostly likely is a hedge against a long equity position and, with the stock rising as much as 7.4% last week, the investor is looking for greater downside protection after making money in last weeks rise in share price.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: OptionsMarkets
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!