What big put seller sees in Liberty Media

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Liberty Media has been grinding sideways all year, and one investor thinks it will hold its ground.


optionMONSTER's tracking systems detected the sale of 12,000 August 16 puts for $0.30 against existing open interest of just 573 contracts. The trade accounted for almost all the activity in LINTA, which owns stakes in businesses such as QVC and Evite.

The shares are down 1.84 percent to $16.50 in midday trading and have mostly stayed between $15 and $18 all year. They've been making higher lows and seem to be bouncing above the 200-day moving average, which could lead some chart watchers to believe that they will hold their ground or push higher.

If today's put seller is wrong, he or she will have to buy LINTA for $16. But the investor probably likes the company anyway and would be willing to own it at a lower price. (See our Education section)

Overall option volume in the name is 10 times greater than average so far today.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.


This article appears in: Investing , Options

Referenced Stocks: LINTA

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