Bearish flow noted in Hertz Global Holdings with 8,412 puts trading, or 10x expected. Most active are Nov-23 10 puts and Nov-23 12.5 calls, with total volume in those strikes near 8,500 contracts. The Put/Call Ratio is 4.51, while ATM IV is up over 1 point on the day. Earnings are expected on October 26th.
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- Hertz names Justin Keppy as COO, effective November 15
- Hertz price target lowered to $20 from $26 at Deutsche Bank
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- Hertz Global Holdings call volume above normal and directionally bullish
- Hertz price target lowered to $21 from $25 at Oppenheimer