Safeway (SWY) is down 3 percent to $25.73 and 2685 puts traded on the grocery chain so far. The volume represents 26X the typical volume and about 10X the number of call options traded. May 25 puts trade 1620X (89 percent Ask) vs. 790 in open interest. Looks like buyers of Jun and Sep 25 puts as well. Implied volatility is up about 3.5 percent to 31 ahead of earnings, 4/29 before market. No news on the name today. CS downgraded SWY to Netural from Outperform on 4/19.
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.