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.
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