CX – CEMEX, S.A.B. de C.V.
On Friday January 25th, a trader purchased 10,000 January 2014 10x puts with 9,850 of them at 1.14 and the rest at 1.13 worth about $1,140,000.
Two minutes later they purchased 344,750 shares at $10.76. This transaction cost $3,709,510.
This is a delta neutral strategy which will profit from sharp moves in the stock either way. Earnings are about a week away on February 3rd, so this could be a play on earnings.
