Puts Sold on UBS

Shares of UBS AG UBS are flat on the session, currently trading $13.32. The stock has been drifting lower for the past two months and is nearing a horizontal support level around $12.50. One trader is betting that the slide is over in the name as they are selling out of their long put position. The June $13 put was sold 3,000 times today on the bid; open interest on the strike is 3,057 contracts. UBS AG is a client-focused financial services company that offers a combination of wealth management, asset management and investment banking services on a global and regional basis.