Safeway (SWY) shares are up 29 cents to $20.64 and options volume is 8X the average daily, being driven by a block of 36,000 October 19 puts at 15 cents each. Looks like an opening writer and similar to the block of puts traded on WAG (see 12:27 color). It does not appear tied to Safeway’s dividend. SWY implied volatility is flat at 29, compared to a 52-week high and low of about 39.5 and 20. Earnings expected mid-October.
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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.