Put selling hits in Beazer Homes on the heels of this morning's call buying.
The upside buying took place right out of the gate this morning, but the homebuilder's biggest print of the day lit up optionMONSTER's systems when a trader sold 4,874 May 3 puts for $0.32. More than 5,000 of those puts have traded today against open interest of 666.
BZH is up a penny at $3.50 today. It has been trending higher from its 52-week low of $1.35 in the last five months and was trading just shy of $4 at the beginning of February.
Shortly after those puts were sold, the largest block of stock traded when 141,346 shares of BZH were sold for $3.5. That could be hedging the option trade to create an overall position that is focused on lower volatility more than any changes in stock price.
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