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Janus bears ready for a plunge

Chris McKhann (chris.mckhann@optionmonster.com)

Janus Capital Group has been skidding lower, and the bears are circling.

optionMONSTER's Depth Charge monitoring program detected the purchase of 15,000 December 10 puts for $0.70. Approximately 14,000 September 12 puts were also sold for $0.80, but volume was below open interest.

That suggests an existing position was closed and rolled to the lower strike. Making the adjustment generated $0.10 of premium and provided an additional three months of downside exposure. The investor may be playing for a drop in the share price or hedging a long bet. (See our Education section.)

JNS gained 2.17 percent to close the day at $11.75, and has pulled back from near $13 a few weeks ago.

Total option volume was 9 times greater than average in the session, with puts outnumbering calls by 73 to 1.

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