Schaeffer's Options Center
Sponsored by:
Schaeffer's Daily Option Blog

Option Bears Aim for Coach Inc (COH) to Move Even Lower

Put volume on Coach Inc is quadrupling the intraday pace

by 6/20/2014 10:47 AM
Stocks quoted in this article:

Option Brief: Coach Inc (NYSE:COH) is continuing to slide this morning, following yesterday's disappointing investor and analyst day, and a subsequent series of bearish brokerage notes earlier. At last check, the shares were down 3.1% at $34.59, had touched a new multi-year low of $34.58, and had found a place on the short-sale restricted list for the second day in a row. As such, bearish speculators are rushing into the retailer's options pits to find alternative ways to bet on additional downside.

Currently, intraday put volume is running at four times the norm, and easily outstripping call volume. Most active is the July 35 put, which appears to be seeing buy-to-open activity, as speculators take aim at lower lows. Nearly 3,000 contracts have traded here at a volume-weighted average price (VWAP) of $1.24, yielding an at-expiration breakeven of $33.76 (strike less VWAP). Additional gains will accrue on a move all the way down to zero, while the traders will part with no more than the initial premium paid, should Coach Inc (NYSE:COH) be perched atop the strike at the close on Friday, July 18 -- when the soon-to-be front-month contracts expire.


permalink

Featured Brokers
ADVERTISEMENT
Unusual Option Volume
Option Flow
ADVERTISEMENT
ADVERTISEMENT
Most Active Stocks
Most Active Option Strikes
Largest Open Interest

Partner Center

© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.