Vote of confidence in PG&E as shares slump
Vote of confidence in PG&E as shares slump. The stock down 56c to $52.50 and 9.9K Jan 50 puts trade at 70c when bid-ask was 70 to 90c. The six-week put write opens a block struck 5% below spot and does not capture earnings, due mid-Feb. The interest today comes after a two-month 24% dive in the underlying, as the stock faced heavy selling in early-October due to concerns about the impact of wildfires in Northern California.