One trader apparently believes that Genomic Health will hold current levels for the next few months.
optionMONSTER systems show that 3,000 September 25 puts have been sold today, with one block of 1,400 going for $1.15 and another of the same size for $1.10. This is new positioning, as previous open interest was just 623 contracts.
The put seller is looking for GHDX to hold above $25 through expiration in mid-September. The trader also takes on the risk of having to buy shares if they fall below that strike price. (See our Education section)
GHDX is down 0.68 percent to $26.17 this morning. The molecular diagnostics company hit a 52-week low of $23.9 in early May but has been testing overhead resistance at $28 for the last month.
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