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Schaeffer's Sentiment Snapshot: Altria Group, Inc. (MO)
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Published in House and Home on Wednesday, January 14th 2009 at 10:22 GMT, Last Modified on 2009-01-14 10:22:24 by Market Wire🞛 This publication is a summary or evaluation of another publication
CINCINNATI--([ BUSINESS WIRE ])--Pessimistic positions on Altria Group, Inc. (NYSE: MO) were smokin' hot in the options pits yesterday, with the security the target of heavy put trading. More specifically, the tobacco titan saw roughly 16,600 puts change hands yesterday, more than 2.5 times its average daily volume of fewer than 6,250 contracts.
However, while options expiration week typically draws an influx of eleventh-hour bets to the front-month series (January, in this case), most of MO's activity yesterday centered around the March series of options. Most notably, the equity's March 14 put saw 4,374 contracts cross the tape, making it home to peak put open interest of more than 6,600 contracts in the back-month series.
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