It wasn't a surprise to see put traders jump on Viacom, Inc. (VIAB)
Once again, the Dow closed lower -- extending its longest losing streak of the year -- as media giants traded off. Across all 12 options exchanges, 8.39 million calls crossed, compared to 9.29 million puts. The day's put/call volume ratio closed at 1.10.
One of the media names hurt today -- and on the short-sale restricted list -- was Viacom, Inc. (NASDAQ:VIAB), which saw puts cross at 25 times the typical pace after its earnings fail. Monster Beverage Corporation (NASDAQ:MNST) puts changed hands at 11 times the normal pace -- and the stock's 30-day at-the-money implied volatility hit a 52-week high -- ahead of earnings.
After the company's earnings beat, Herbalife Ltd. (NYSE:HLF) calls were exchanged at five times the average rate. Elsewhere, after-earnings traders had Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) calls crossing at eight times the expected pace.
