Yesterday on Fast Money 360, Brian talked about the option side to Merck. Volatility has moved over the last 8 quarters and it is averaging a 6% move after earnings. We are seeing traders buy put protection to the downside. At this level, Brian is not a huge buyer, he wants to see a super spike in volatility in the options market before he starts to buy Merck.
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Are option traders expecting a major sell off in June? $VIX had been smashed today prior to last 30 minutes of trading and then $SPY puts found a bid. #EAVOL https://t.co/dpBynvQkB7
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Brian Stutland