Large investor lays out $31 million options hedge against U.S. stock market drop


FILE PHOTO: The New York Stock Exchange is pictured in the Manhattan borough of New York, September 21, 2015. REUTERS/Carlo Allegri/File Photo

NEW YORK (Reuters) – Monday’s slide in U.S. stocks prompted at least one large investors to load up big on stock options that would guard against a sharper hit to stocks into the start of next year.

Shortly after the market opened on Monday, an investor paid about $31 million to buy 16,000 of January put options at the 2,980 level on the S&P 500 Index .SPX, according data from options analytics firm Trade Alert.

The position struck about 4.6%…


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