December expiry options changing hands on Big Lots in the early going today indicate some traders are positioning for the price of the underlying to sell down further during the next couple of weeks. Traders appear to have purchased around 770 of the Dec $30 strike puts at a premium of $0.20 each. Put buyers may profit at expiration if shares in BIG decline 7.0% from today’s low of $32.00 to trade below the breakeven point on the downside at $29.80. Shares in Big Lots last traded below $29.80 back in January.
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