Chimera Sees Put Buying for Second Day (CIM)

Shares of Chimera Investment Corporation CIM are flat on the session, currently trading at $4.13. The stock has been moving largely higher over the past three months, off of a recent low near $3.50, though is now near resistance at $4.18. Options traders are buying protection on shares for the second consecutive day. A short while ago the October $5.00 put was purchased 2,000 times, on the offer, for $1.10; open interest on the strike is 3,116 contracts. Put volume is running at 4.98x the daily average, 88% on the offer. Chimera Investment Corporation is a specialty finance company that invests, either directly or indirectly through its subsidiaries, in residential mortgage-backed securities, residential mortgage loans, real estate-related securities and various other asset classes. 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.