Feb. 23 at 6:35 PM
$LNC is getting hammered today, down about 8.6% and nearly 12.4% over the last five sessions
Options traders are all over this with at-ask
$35 put sweeps from March to July
Seems like they're betting on more downside
Morgan Stanley trimmed the price target but kept an Overweight rating
Interesting move given the decline
Those
$35 puts are around 4 to 7% out of the money, suggesting
$35 is the key level here
Watch for put spreads instead of naked options, volatility is high and defined-risk is the play
March and July sweeps show new money coming in, but with only
$236K in premium, it's tactical, not a game-changer
