Metlife Inc (MET) Options Active As Company Ups Quarterly Dividend

Lions Gate Entertainment Corp. (NYSE:LGF) – The global entertainment company popped up on our scanners this morning due to heavy trading traffic in June expiration put contracts. The spike in put activity on Lions Gate Entertainment Corp. (NYSE:LGF) suggests some traders may be positioning for a pull back in the stock or securing downside protection on the name ahead of Lionsgate’s fourth-quarter earnings report after the close on May 30th. Shares in Lions Gate Entertainment Corp. (NYSE:LGF) are up 0.35% at present to stand at $23.77 as of 12:35 p.m. ET. The stock has increased roughly 104% since this time last year. Options volume on Lions Gate Entertainment Corp. (NYSE:LGF) today, up substantially over the stock’s average daily level of around 3,100 lots, is concentrated in the Jun $23 puts. It looks like traders exchanged more than 22,000 puts at that strike during the first half of the trading session against open interest of just 518 contracts. It looks like most of the volume was purchased at an average premium of $1.14 apiece, indicating downside protection – or profits – kick in given an 8.0% decline in the price of the underlying to $21.86 by June expiration.

Caitlin Duffy
Equity Options Analyst

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