By Doris Frankel Tue Aug 19, 2:47 PM ET CHICAGO (Reuters) - Many traders scooped up defensive put options on Lehman Brothers Holdings Inc (LEH.N) on Tuesday, betting its stock will suffer more losses.Shares of the fourth-largest U.S. investment bank fell 13.1 percent, or $1.97, to $13.11 on the New York Stock Exchange in afternoon trade.
In all, roughly 81,000 puts compared to 66,000 calls changed hands, exceeding the recent daily average of 88,000 contracts, according to option analytics firm Trade Alert.
Read More