Puts Purchased on First BanCorp (FBP)
Shares of First BanCorp (NYSE: FBP) are lower on the session by 13.53%, currently trading at $0.561. The stock has been trading largely lower over the past four months, off from recent highs near $3.70.
Options traders are buying puts on the name today, betting that a further sell off may be in order. The July $2.50 put was purchased 1,300 times earlier in the session. Open interest on the strike is 2,455 contracts. Put volume is now running at 2.5x the daily average.
Benzinga highlighted put buying on FBP yesterday; the stock is off 13.55% since that call.
FirstBanCorp is a publicly owned financial holding company. The company provides a range of financial services for retail, commercial and institutional clients.
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