Safeway is bouncing this morning while seeing heavy action in puts that expire today.
SWY is up 0.71 percent to $18.33, well off its opening high of $18.78. Shares of the supermarket chain were down at $17.50 on Wednesday, their lowest level since October.
More than 6,400 June 18 puts have traded against open interest of 1,102, according to optionMONSTER's systems. They were almost all sold, with the big blocks going off for $0.05.
The puts, which expire at the end of today's session, are not far out of the money. The $0.05 credit from the put sale will be the profit if SWY is above the $18 strike price at expiration, though the trader is also showing a willingness to buy the shares if they are below that level. (See our Education section)
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