Protection Sold on Ford Motor Company (F)
Protection Sold on Ford Motor Company (F)
Shares of Ford Motor Company (F) are trading higher on the session by 0.96%, at $9.43. The company reported August Auto Sales just moments ago, saying that it saw U.S. sales improve by 13% year over year. Results topped analystsí expectations.
Ford said it sold 197,249 vehicles in the U.S. in August The Ford brand saw a 13% sales improvement, while Lincoln brand sales grew 1.7%.
One trader took the opportunity to sell downside puts on Ford this morning. Shortly after the opening bell, the September weekly $9 put was sold 5,000 times, on the bid, for $0.01. With open interest just 1,299 contracts, it is clear that this was fresh positioning. The strike is currently bid $0.01, at $0.02.
The trader clearly had high confidence that auto sales would not disappoint.
Near-term implied and historical volatility is registering 24% and 15%, respectively. At $0.01, the Sept $9 put traded at roughly 26% vol.
Ford Motor Company is a producer of cars and trucks. The company and its subsidiaries also engage in other businesses, including financing vehicles.
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