Schaeffer's Daily Option Blog: Put Volume Picks Up on Prudential Financial, Inc. (PRU)

Put players pounced on Prudential Financial, Inc. (NYSE: PRU) on Monday, as the banking behemoth prepares to take the earnings reins. According to Thomson Reuters, Prudential is slated to report third-quarter earnings after the closing bell on Wednesday, Nov. 4. The firm has exceeded analysts' expectations in two of the last four quarters, but last week's bevy of bank-related earnings may have sparked skepticism ahead of the event.

During the course of Monday's session, PRU saw roughly 7,400 puts change hands – tripling its average daily volume of fewer than 2,400 puts, and almost quadrupling the amount of PRU calls traded. Most active was the security's November 48 put, which saw nearly 3,000 contracts cross the tape. Meanwhile, the stock's December 50 put saw 2,500 contracts traded. However, 89% of the November-dated puts and 100% of the December-dated puts traded at the bid price, suggesting they were sold.

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