Arch Coal Inc (ACI) puts were a prime target as the stock took a tumble
The Dow got buried today, ending with a 469-point loss. Across all 12 options exchanges, 7.3 million calls crossed, compared to 9.1 million puts. The day's put/call volume ratio closed at 1.24.
J C Penney Company Inc (NYSE:JCP) call volume rose to three times the average, as the retailer shrugged off a negative start to end 1.7% higher. Meanwhile, cereal maven Kellogg Company's (NYSE:K) calls also changed hands at triple the usual rate.
On the put side, Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) saw volume rise to nearly five times the norm, as the stock continued to pare last Friday's M&A-inspired gains. Elsewhere, puts for Arch Coal Inc (NYSE:ACI) crossed at eight times the average rate, as coal stocks got battered.
