Dan Nathan Sees Unusual Options Activity In Verizon Communications Inc.

Dan Nathan analyzed on the show a bearish options bet in

. There was a big purchase of puts when the stock was trading at $44.17. A trader bought 12,000 of the November 42 puts for $0.32. The trade breaks even at $41.68 or approximately 5.5 percent lower from the current stock price. Nathan added that

is reporting earnings on October 20th. He believes that this trade could be a hedge ahead of the earnings report because the break even for the trade is close to important support for the stock.