Traders are betting that Manitowoc will hold its ground this week.
optionMONSTER's tracking programs detected the sale of more than 10,600 December 14 puts for $0.10 this morning. Volume was well above the strike's open interest of 3,826 contracts, an indication that new money was put to work.
Short puts lock in a price where investors must buy a stock, while letting them collect premium. Traders use the technique when they like a stock and think the risk of a big drop is limited. (See our Coaching section)
MTW is down 1.02 percent to $14.53 today and is down 10 percent in the last three months. The crane and elevator manufacturer reported bearish results on Oct. 14 and is expected to release its next quarterly numbers on Jan. 28.
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