Data Leak Drags AT&T Stock; Put Traders Respond

Put volume is today running at 10 times the intraday average

Digital Content Manager
Apr 1, 2024 at 10:21 AM
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AT&T Inc (NYSE:T) revealed earlier it suffered a breach that exposed data from 7.6 million current and 65.4 million former account holders to the dark web. The equity is down 2.4% at $17.19 at last check, but a recent floor at the $16.80 region combined with support from the 80-day moving average look ready to contain additional losses. Over the past 12 months, T shed 8.6%.

Put volume is already running at 10 times the intraday average today, with 23,000 bearish bets exchanged so far, compared to just 17,000 calls. The most active contract is the weekly 4/5 17-strike put, where new positions are being opened, followed by the 17.50-strike put in that series.

Short-term options traders lean bearish, per the equity's Schaeffer’s open interest ratio (SOIR) of 0.89 that ranks in the top percentile of its annual range. Plus, options look like an solid way to bet on AT&T stock's next moves, as its Schaeffer's Volatility Index (SVI) of 16% sits at the bottom its 12 month-range. This indicates options traders are currently pricing in low volatility expectations.

 

 

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