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IBM Notable Heavy Put Option Activity

International Business Machines Corp. (IBM) options activity is definitely noteworthy because Big Blue has been one of the better Dow performers this year and has really only begun to crack in recent days as the market selloff has picked up in intensity putting the Dow Jones Industrial Average officially in bear market territory – the benchmark is down 20% since October.  There was a lot of interest in put options expiring in July going from the $125 strike all the way down to the $110 strike with volume comprised in the middle of that range – 15,257 contracts at $115 and 12,822 at $120, nearly the same as open interest. Put volume was 2.4x total call volume for options expiring in the current month.

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