Apollo Global seen holding gains

optionMONSTER

Apollo Global Management is pulling back from all-time highs, but one trader is betting that the private-equity company will hold current levels.

optionMONSTER's tracking systems detected the sale of 2,200 December 30 puts this morning, almost all of them going for $0.81. Open interest in the strike was just 676 contracts before the trade appeared, showing that it is a new position.

This put seller is looking for APO to stay above $30 through expiration in mid-December, at which time he or she would keep the $0.81 credit as profit. But if the stock falls below that strike price, the trader will be on the hook to buy shares at that level. (See our Education section)

APO is falling with the broader market today, down 3.17 percent to $32.46 despite beating third-quarter earnings estimates after the close yesterday. The stock is up about 150 percent in the last year, hitting a lifetime high of $34.88 on Oct. 24.

Total option volume in the name is already more than double its full-session average for the last month.


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