Reddit's meteoric rise during its trading debut last week is spurring demand for protection just in case the uptrend reverses.
Investors and speculators are piling into put options that give the holder the right to sell $Reddit (RDDT.US)$ shares by April 19 at $25 each. That strike price is about 50% below Reddit's stock price of $50.47 as of 11:14 a.m. in New York.
Demand for a hedge against a potential price slump is soaring on ...