Lowe's draws bearish spread trading
Lowe's draws bearish spread trading. 3.1K Oct 38th 71 puts bought for $1.29, 3.1K Oct 28th 69.5 puts sold at 66c and 3.1K Oct 28th 69 puts sold at 54c. All three legs open and the new spread offers a max payout if shares slide back to $69.5 through the 10/28 expiration. Timing is interesting because it comes one day after an Oct 28th 120 - 125 put spread on Home Depot (HD) was bought to open 6K.