Paper bought 2500 CAB June 50 puts & sold 2500 June 45 puts for a net credit of 1.15.

CAB
Cabela?s Inc., trading 53.07 (up .92) with an IV30 of 34.54 and an HV10 of 34.88 is seeing a June put spread.? The retailer, with an ADV of 667 contracts and OI of 17,000, saw a 2,500 lot put spread trade.? A customer bought 2500 of the June 50 puts for 1.40 and sold 2500 of the June 45 puts at .25 net paying 1.15 for the June 45/50 put spread.

This is either a hedge or a play on the underlying softening a bit over the next few weeks.? The customer is betting 1.15 to make 3.85 which is not a bad pay out for how near the money this trade is and the fact that it has 45 days till expiration.? The traders clearly thinks the stock which has ran up significantly since earnings last week could see some downside.