Put Volume Surges on Bank of Nova Scotia (BNS)

Shares of The Bank of Nova Scotia BNS are lower on the session by 2.79%, currently trading at $47.03. The stock has been moving largely lower over the past five months in a downward trending channel; the stock is currently trading below the 50-day moving average. Options traders are buying puts on the name today. Though action has been primarily in small lots, put volume is now running at 10.10x the daily average. Traders are buying the $45.00 and $40.00 put in multiple months. The Bank of Nova Scotia is a financial institution, active in both Canadian and international markets. The bank offers a range of products and services, including retail, commercial, corporate and investment banking to almost in some 50 countries worldwide. The bank has three business lines: Canadian Banking, International Banking and Scotia Capital. For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator.