Esteel Lauder (EL, news, chart) is seeing bearish order flow for the second time in three trading sessions. On Friday, volume rose to nine times the usual, amid signs of increasing buying interest in the August 35 and August 30 puts. Today, options volume is running four times the usual, with 6,800 puts and 77 calls trading on the day. The August 35 puts are again the most actives, with 5,000 contracts and 99 percent of today’s volume trading offerside. The stock is down 63 cents to $42.17 and directional sentiment based on today’s options order flow in EL is 87 percent bearish. Nothing new on the wires. Earnings due out mid-August, possibly before the August options expire.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.