3X average daily option volume in Medtronic and calls lead puts almost 2:1
3X average daily option volume in Medtronic and calls lead puts almost 2:1. The stock off 20c to $86.67 and biggest trade in the med equipment-maker is 3K Apr 26th 87.5 puts at $1.18 - appears to be an opening sale. Beyond that, the flow has been mostly smaller lots and includes Jun 87.5 - 92.5 call spreads, bought for $1.85, to open. The vertical trades more than 4K and targets a 6.5% move to $92.5 or better through mid-June. May 31st 80 - 85 put spreads also seeing interest (950 total, all small lots less than 100 contracts), as are May 92.5 calls. Total volume is 12K calls and 6.8K puts and bullish activity comes as shares test two-month support lows after a one-month 7.5% drop. Earnings 5/23.