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1,600 Puts Trade in Charles River Laboratories International, Inc. (Symbol: CRL)


1,600 Puts Trade in Charles River Laboratories International, Inc. (Symbol: CRL)

Posted April 2, 2024
Jeff Praissman
Interactive Brokers

This morning 1,600 Charles River Laboratories International, Inc. (Symbol: CRL) May 17 ’24 230 puts traded at $2.38. The puts are a 16 delta, so they are the equivalent of 25,600 shares of stock. At the time of the trade CRL was trading at $261.67. This is an opening trade with open interest in the CRL 230 puts this morning less that 10 contracts.

Earnings are expected to be released between May 9th and May 13th, so this trade is most likely an earnings play. The past 8 earnings cycles CRL has slightly outperformed analyst forecasts. The trader may be speculating that CRL will drop in price, or they may be protecting a long stock position.

CRL is currently trading at $259.98. CRL has a 52-week high of $274.69 and a 52-week low of $161.65.

CRL is currently trading at $259.98. CRL has a 52-week high of $274.69 and a 52-week low of $161.65.

Source: IBKR TWS. Past performance is not indicative of future results

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2 thoughts on “1,600 Puts Trade in Charles River Laboratories International, Inc. (Symbol: CRL)”

    • Hello, we appreciate your question. Every options contract represents 100 shares of stock.

      A delta is a measure of the rate of change in an options theoretical value for a one-unit change in the price of underlying stock. You can use delta to measure the market’s expectation of the options contract expiring in the money.

      For this example, you multiple the number of puts traded * the delta.

      Please see the link below for more information:

      We hope this answers your question.

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