What's behind put sale in Endo Health

optionMONSTER

One trader is calling a floor in shares of Endo Health Solutions.

optionMONSTER systems show that one print in the January 30 puts was responsible for almost all of yesterday's option volume in ENDP. A trader sold 3,000 of those puts in one print for $1.45 in volume far above the strike's previous open interest of just 258, clearly a new position.

The put selling is a bet that ENDP will hold up above $30 through the end of the year. The trader is also showing the willingness to buy shares if they are below the strike. (See our Education section)

ENDP rose 0.32 percent yesterday to close at $37.31. Shares of the pharmaceutical and health-care company, which were at a high just shy of $40 last week, last closed below $30 on the first day of March and was down at $25 at the start of the year.

Total option volume in the name was nearly double its daily average for the last month.

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