One investor wants to turn time into money with TripAdvisor.
optionMONSTER's tracking systems detected the sale of about 3,600
March 30 puts for $0.25. Volume was almost triple the open interest
in the strike.
The trader is now obligated to buy shares of the travel-information
service for $31 if they fall to that level over the next 1-1/2
weeks. If they don't, the puts will expire worthless and he or she
will keep the credit.
is a common strategy when investors like a stock but don't want to
spend money to get long. It mainly profits from
, the process by which options lose money at an accelerating pace
as they near the end of their lifecycle. (See our
TRIP fell 1.11 percent to $31.07 yesterday and has fluctuated
between $26 and $36 since getting spun off from Expedia in
Overall option volume in the name was twice the daily average in
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