35,000 Diagonal Put Spreads Trade in Bloomin’ Brands, Inc. (Symbol: BLMN)

This morning the Bloomin’ Brands, Inc. (Symbol: BLMN) January 17 ’25 12.5 / February 21 ’25 10 diagonal put spread traded 35,000 times for $0.36. The trader was closing out their position in January and rolling it to the February expiration. The open interest in the January 12.5 puts this morning was 35,000 contracts while the open interest in the February 10 puts was less than 100. This is a common strategy that allows the trader to continue to have a position while “rolling” from a front month to a month with a longer expiration date.

At the time of the trade BLMN was trading for $12.62. BLMN is currently trading for $12.44. BLMN has a 52-week high of $29.43 and a 52-week low of $11.24.

Source: IBKR TWS. Past performance is not indicative of future results

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