Traders Bearish on Leucadia National (LUK)

Shares of Leucadia National Corporation LUK are lower on the session by 1.52%, currently trading at $22.75. The stock has been moving largely sideways for the past four months, though has been attractive bull volume as of late. Options traders are picking up some downside protection on the name today. The December $20.00 put was purchased 1,100 times, on the offer, a short while ago; open interest on the strike is 2,116 contracts. Put volume is now running at 5.88x the daily average with 100% of all puts traded being purchases on the offer. Leucadia National Corporation is a holding company engaged in a range of businesses, including manufacturing, telecommunications, land based contract oil and gas drilling, property management and services, gaming entertainment, real estate activities, medical product development and winery operations. 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.