MBIA (MBI) financial services company that is currently trading at $12.23. MBIA is trading in in a fifty two week range of $11.96-12.78. The stock has been slightly under performing the market with shares rallying 2.57%. Options traders seem to think the stock will stay above $12. We saw 1800 June 12 puts being sold for .33 cents. By selling puts, this trader is obligated to buy the stock if it is at or below the $12 strike before expatriation. If the stock stays at $12 or above, the trader will keep the $59,400 in premium. As long as the stock stays above $11.65 by June expiration, this trader will make money off the premium sold. A trader believes that (MBI) is setting up to stay above $12 strike before June.
