Enormous Put Trade Crosses on GrubHub

There was a huge bearish trade on food delivery stock GrubHub earlier

Apr 9, 2019 at 3:20 PM
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GrubHub Inc (NYSE:GRUB) put options are trading at six times the normal rate today, with more than 12,000 contracts on the tape. A bulk of this volume occurred at the May 80 put, where Trade-Alert is highlighting an $11 million transaction that is betting on GRUB shares to fall further below $80 in the weeks ahead, though this activity may be tied to stock. At last check, the equity was down 2% at $70.16, finding support at its 10-day moving avergae.

GW Pharmaceuticals PLC (NASDAQ:GWPH) is trading up 1% at $169.20, after a negative regulatory update for rival Zogenix (ZGNX). GWPH call options are trading at three times the pace expected, led by activity at the April 175 call. Volume is high at the August 175 call, too, where new positions are being opened on the CBD expert.

Another name seeing heavy options trading is Marvell Technology Group Ltd. (NASDAQ:MRVL), as the shares trade at their highest point since August, last seen up 0.6% at $21.57. New positions are being opened at the most popular contracts today, namely the weekly 5/3 22.50- and 23-strike calls, while the weekly 4/12 21.50-strike call is also seeing notable activity.

 

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