Schaeffer's Option Blog: Put Trading Ticks Higher on Office Depot Inc. (ODP)

CINCINNATI--(BUSINESS WIRE)--Pessimism continues to build toward Office Depot Inc. (NYSE: ODP) as traders exhibited a preference for puts on Wednesday. Overall, the stock saw more than 63,700 contracts cross the tape, which is nearly 19 times the equity's average daily trading volume, according to data from WhatsTrading.com.

Specifically, the August 5 put added approximately 1,000 new positions, lifting its open interest to 5,064 contracts. This strike is the site of peak put open interest in the front-month series. Meanwhile, the October 5 put added roughly 800 new positions, putting its open interest at 1,651 contracts.

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