The most traded contracts on STZ as of the time of this writing are the April $77.5 and $80 strike puts, with more than 1,300 options in play at each striking price. It looks like one or more traders purchased most of the contracts, paying an average premium of $0.885 per contract for the $77.5 strike puts, and shelling out an average premium of $1.39 each for the higher $80 strike put options. Put buyers may profit at expiration next month in the event that shares in Constellation Brands slide roughly 8.0% and 5.0% from the current level to breach the average breakeven prices of $76.615 and $78.61, respectively.
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