Loading ...DB is pacing toward its worst monthly loss since Brexit
U.S.-listed shares of Deutsche Bank AG (NYSE:DB) are selling off today, on news of a damning report by the Federal Reserve. And while the bank stock is barreling toward its lowest close in nearly two years, options traders are bracing for even bigger losses.
With roughly 90 minutes left in today’s trading, 64,051 puts have been traded in DB’s options pits — 10 times what’s typically seen at this point in the session, and volume at a 12-month peak. Most active is the August 7 put, where a 10,000-contract block was likely bought to open, and could be tied to stock, according to Trade-Alert.
However, the 10-strike put seems to be most popular with options traders. More specifically, it looks like new positions are being purchased at this strike in the weekly 6/8, June, July, and August series of options. If this is the case, the goal is for DB stock to sink into single digits over the next few months.