Facebook took a hit last week and options activity is heating up, reports Jay Soloff.
The market is experiencing a resurgence of volatility, adding to the already very active options market. Last week, the bears finally caught up to Facebook (FB). The social media platform's share price dropped 8% in one day, with more than 1 million contracts of options volume.
The selloff came courtesy of Verizon (VZ), which decided to pull ads from the popular platform due to concerns over hate speech. The options action was mixed, with a heavy amount of put and calls trading, including what looked to be a large collar trade.
Jay Soloff is the Options Portfolio Manager at Investors Alley. He is the editor for Options, 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.
