DV – DeVry, Inc. – Shares of the owner and operator of for-profit schools and colleges slipped slightly lower by 0.05% to stand at $57.02 by 12:50 pm (ET). DeVry popped up on our ‘hot by options volume’ market scanner in the first half of the trading session due to bearish put buying activity in the July contract. Investors bracing for continued erosion in the price of DeVry’s shares picked up at least 3,100 puts at the July $50 strike for an average premium of $0.86 per contract. Put players are poised to profit should shares of the underlying stock plummet 13.8% to trade beneath the average breakeven price of $49.14 by July expiration.
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Andrew Wilkinson is the senior market analyst at Interactive Brokers Group, where he provides daily commentary and analysis on U.S. equity options trading throughout the trading day. Andrew provides webinars designed to explain option-related trading scenarios covering futures, fixed income, forex and equities.
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