Nokia's Unusual Options Activity and Nvidia's $1 Billion Stake

Nokia Corp (NOK) ADRs saw unusual long-dated put options trading after Nvidia invested $1 billion in new NOK shares. The put options are out-of-the-money at $7.00 per share and expire in over 2 years. The trade is likely initiated by a short-seller of these puts, who has a breakeven point of $5.74, and makes a yield of 18.0% for the next 27 months.