Put Volume Spikes on Fidelity National (FIS)
Shares of Fidelity National Information Services (FIS) are trading higher on the session by 1.51%, at $31.64. The stock is catching a bid after the world's largest provider of banking and payments technology announced that it would be expanding significantly into India.
Fidelity said that it is planning to roll out 5,500 ATMs in India over the next 2 years.
Put volume is spiking on the name today. Currently, overall put volume is registering 135x normal volume with 3,102 puts traded.
The majority of the action stems from the September $31.00 put, where over 3,000 contracts have traded on open interest of only 225. This indicates fresh positioning on the name.
The largest trade was the purchase of a 2,966 contract block, on the offer, for $0.65. The strike is currently bid $0.49, at $0.57.
At $0.65, the trader was paying a premium for the contracts. Overall implied and historical volatility was registering only 16% and 17%, respectively, while the Sept $31 put traded at 22.5% vol.
Fidelity National Information Services, Inc. is a global provider of banking and payments technologies. The company operates in four segments: Financial Solutions Group, Payment Solutions Group, International Solutions Group, and Corporate and Other Segment.
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