Shares of Assured Guaranty LTD AGO are falling by 2.55% today, currently trading $16.03, but one trader is betting that the stock’s will not fall significantly by the end of the year.
Today, the January 2011 $7.50 puts were sold on the bid 2,660 times for $0.85; open interest on the strike was only 586 contracts, which signals new positioning.
This seems to be a play on lower volatility in the name over the course of the year as well; with the recent market turmoil implied and historical vol has been pushed higher, to nearly 12-month highs.
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