Virgin Media has been consolidating in a range since October,
and one investor apparently thinks that it will hold its ground or
optionMONSTER's tracking systems detected the sale of 3,500
September 17.50 puts on VMED, which provides television, wireless,
and broadband services in the United Kingdom. The transaction
priced for $1.35 and accounted for almost all the options activity
in the stock so far today.
VMED fell 0.34 percent to $17.44 in afternoon trading. It's been
fighting resistance around this level while making incrementally
higher lows in February and May, suggesting that a bullish uptrend
The company said on April 28 that operating earnings rose more than
400 percent amid a big gain in both television customers and
revenue per user.
Today's put seller is looking for the shares to hold their current
levels or push higher. Given the credit earned, the position will
make money as long as VMED closes at or above $16.15 on expiration.
Overall options volume in the name is more than triple the average
level so far today.
(Chart courtesy of tradeMONSTER)
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