Bears Lean Into Windstream (WIN)

Shares of Windstream Corporation (WIN) are trading lower on the session by 2.10%, at $9.57. The stock has been breaking lower over the past six weeks, tagging the $11.00 resistance level and cascading toward support. With the $9.66 level breeched, shares have a shot at revisiting the six-month lows near $9.00.

One trader is making a big bet that WIN will move lower over the next few months. Shortly after the opening bell the December $9.00 put was purchased 7,991 times, on the offer, for $0.25. Open interest on the strike is only 30 contracts, indicating new positioning.

Overall put volume is spiking to 6.3x normal volume today with 10,240 contracts traded. 30-day implied volatility is popping 14.6% to 32.78%; 10-day realized vol is registering 20.29%.

Windstream Corporation is a provider of advanced communications and technology solutions, including managed services and cloud computing, to businesses nationwide. 

About Michael Zerinskas

Originally from Chicago, Michael J. Zerinskas began his career as an intern for a small high-frequency trading firm based at the CME; he then moved on to become Chief Options Strategist at Benzinga.com. Michael is now Unusual Activity Editor at The Options Insider, specializing in VIX, volatility, and flagging unusual activity.