Boston Scientific has rallied back to its highest levels since last year's financial crisis and is scheduled to discuss a key defibrillator trial this morning, prompting one large investor to position for a potential decline.
Volume in the September 11 puts climbed to 7,336 against open interest of 2,143 contracts. A large purchase for $0.20 accounted for most of the activity, according to OptionMonster's tracking systems.
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Boston Scientific rose 2.71 percent to close at $11.75 yesterday and is up 6 percent in the last month. The heart device company will present final results for the trial of its MADIT-CRT defibrillator at 8 a.m. ET today. On June 24, management said the device met its primary endpoint by reducing heart failure.
The puts purchased yesterday will protect against a 6 percent drop in Boston Scientific shares.
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David Russell is a reporter and writer for OptionMonster.