Here is some generally directional, untied options activity that caught my eye during Tuesday’s trading:
1. VZ – one trader expressing a view that short dated options are cheap, and that the stock could move more than 2.5% over the next month in either direction. When the stock was $
3. ABBV – when the stock was $58.10 a trader bought to open the Apr 2nd weekly 54.5 / 57 1 x2 put spread 4800 x 9600x for even money. If the stock is between 57.50 and 52 the trader can make up to 2.50, with the max gain of 2.50 at 54 on April 2nd weekly expiration. Losses begin below 52. This trade could be cheap near term protection against a long stock position, or an outright bearish play with a area below where the trader is willing to be long delta/put the stock.