Trade of the Week: HTZ

06/22/2020 6:06 am EST

Focus: STOCKS

Jay Soloff

Options Portfolio Manager, Options Floor Trader PRO

Interesting options activity from Jay Soloff 

Hertz Global (HTZ) declared bankruptcy and received a delisting notice for its stock last week. Nevertheless, the options activity on HTZ has been through the roof. It seems day traders are enjoying the action with both calls and puts trading briskly. One day last week, more than 440,000 options traded in HTZ, mostly in small-lot trades. The larger sized trades tended more towards bearish expectations, which makes sense given that the stock should soon be at zero. However, there still could be a lot of action in the name for the time being.

Video Link: https://youtu.be/piZhhV-07LE

Jay Soloff is the Options Portfolio Manager at Investors Alley. He is the editor for Options Floor Trader, an investment advisory bringing you professional options trading strategies, with all the bells and whistles of Wall Street, but simplified so all you have to do is enter the trades with your broker. Want to Learn Butterflies and Condors? Join Me for a Live Training Session on Monday. Click here for more.

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