Big collar on Twenty-First Century Fox

optionMONSTER

A huge combination trade dominated Friday's option activity in Twenty-First Century Fox, the new television and entertainment spinoff from New Corp.
 
optionMONSTER systems show that a trader bought 15,547 August 25 puts for $0.10 and, seconds later, sold the same number of the August 29 puts for their  bid price of $1.8.

This could be an outright bearish play or a collar . The latter seems quite likely, as the trader might be looking to protect a long position in the underlying shares against a pullback after recent gains. (See our Education section)

FOXA finished Friday up 2.48 percent to $30.38 after starting the week at $28.77. 

Friday's combination play made up almost all of the option volume in FOXA in the session. More than 31,400 contracts changed hands, compared to a daily average volume of just 30 and total open interest of just 765, as this is a new name.


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