Put buyers looking for a place to check in on Expedia.comOnline travel company Expedia.com (EXPE) is seeing put activity that is 86x the normal amount of puts expected to trade.
Currently, more than 23k puts have changed hands vs 2,700 calls. The strike that is seeing the most interest is in the July 15 strike where 20,000 puts have traded exceeding the current open interest by 10X. The unusual activity is due to a newsletter recommendation by a research firm. The biggest trade that has hit the tape was a purchase of 3,000 July 15 puts for $1.00. Implied volatility is seeing an increase of 10% from yesterday, sitting at 67%
Shares have recently broke an upward trend higher from mid February and is seeing some support on the 50 DMA. If support can not be found at the 50 DMA, shares could pull back to the gap higher on April 29, which is around $12.17.
( This is a version of what appeared in our Trader Pro Service today)
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