Puts Sold in Diageo

Shares of Diageo PLC DEO are falling today by 1.69% to $63.92 and have now breeched the 200-day moving average, which is a bearish signal. Next support on the downside comes into play around $60, which is where I would expect the stock to trade down to. Options trading in Diageo PLC is favoring the bull side, though, with the July $65 put sold on the bid for $2.80 1,800 times. Open interest on the strike is 1,943 contracts, which suggests that a long put holder is closing their position.