Options Trading In Facebook Shares Begins On Day Stock Reaches New Low
Facebook shares reached a new low of $28.84 apiece Tuesday, the first day that options trading was allowed.
Facebook shares reached a new low of $28.84 apiece Tuesday, the first day that options trading was allowed.
Bloomberg reported that more than 200,000 puts, which give the right to sell Facebook shares, were traded Tuesday.
According to Bloomberg, June $30 puts represented the most active options contracts, with 23,723 of them traded, followed by June $34 calls and June $32 calls.
$38 per share seems so far away.
Matt McCormick of Bahl & Gaynor told Bloomberg in a phone interview:
People are disillusioned.
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