Puts Purchased on Discovery Communications (DISCK)
Shares of Discovery Communications (NASDAQ: DISCK) ended the session lower by 3.95%, trading at $30.63. The stock has been moving largely higher over the past six months, but has come under selling pressure as of late.
Options traders were buying protection on the name today. The September $30 put was purchased 1,200 times during the session; open interest on the strike is only 45 contracts, signaling new, bearish positioning. Put volume was running at 12.70x the daily average.
Discovery Communications Inc. is a global media and entertainment company that provides original and purchased programming across multiple distribution platforms in the United States and over 170 other countries. Led by the Discovery Channel, Discovery offers over 100 worldwide networks offering customized programming in 38 languages.
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