Option Players Place Bullish Bets on Tenet Healthcare

THC – Tenet Healthcare Corp. – It looks like a number of investors are placing near-term bullish bets on the health care services company this morning by selling put options. Tenet’s shares rallied as much as 5.45% thus far in the session to touch an intraday high of $4.45. Optimistic players expecting Tenet’s shares to exceed $4.00 through October expiration shed approximately 7,500 puts at the October $4.0 strike to take in premium of $0.05 per contract. Put sellers keep the full premium pocketed on the transaction as long as THC’s shares trade above $4.00 through expiration day next month. Investors short the puts are apparently happy to have shares of the underlying stock put to them at an effective price of $3.95 each in the event that the puts land in-the-money at expiration. The overall reading of options implied volatility on Tenet Healthcare is lower by 6.4% to arrive at 41.99% as of 11:55 am ET.