Puts Sold on State Street (STT)

Shares of State Street Corp. STT are higher on the session by 1.65%, currently trading $38.92. The stock has been falling off a cliff as of late and is trading well below the 50-day and 200-day moving averages. It has broken through the $40 support level, which is notably bearish. One trader is selling out of their long put position today, though, betting that the slide in the name is over. The June $38 put was sold 4,000 times a short while ago for $0.60. Open interest on the strike is 4,300 contracts. State Street Corporation is a financial holding company. The Company, through its subsidiaries, including its banking subsidiary, State Street Bank and Trust Company, provides products and services for institutional investors worldwide.
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Posted In: Long IdeasTechnicalsOptionsTrading IdeasAsset Management & Custody BanksFinancials
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