One investor apparently thinks that CenturyLink is on solid ground.
optionMONSTER's tracking systems detected the sale of 7,500 February 33 puts for $0.15. Volume was 26 times open interest in the strike.
The investor is now obligated to buy shares in the telecom stock for $33 if it falls below that level. But if it stays above it, those contracts will expire worthless in four weeks. (See our Education section for more on how options can be used to make money from the passage of time rather than a directional move.)
CTL is down 0.67 percent to $36.90 today but has been slowly grinding higher since early October. Its next earnings release is scheduled for after the bell on Feb. 15.
Overall option volume is twice the average amount so far today.
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