An unusual number of out-of-the-money put options in Johnson & Johnson (JNJ) traded today. This comes after the Aug. 30 spinoff of its consumer Kenvue business. This could be a good income play for short-put traders.
This can be seen in Barchart's Unusual Stock Options Activity Report on Sept. 6. It shows that over 10,000 puts were traded at the $150 strike price for expiration on Nov. 17. The JNJ stock price today is $157.76, so the strike price is still out-of-the-money by 4.85%.
