date:Jul 17, 2012
shares slid 52 cents, or 3.2%, to $15.63 Monday, extending a 10-session losing streak that has shaved 17% off the stock's value.
Meanwhile, another trader bought about 2,000 August $18 put options on Smithfield Foods, a producer of packaged pork products, for 75 cents a share in a similar hedge. This protected the investor against a drop of 5.2% from Monday's closing price.
Smithfield shares dropped 71 cents, or 3.8%, to $18.19 Monday, off 16% since the end of June.
The reason why all these put