Weight Watchers (WTW) loses 68 cents to $64.20 and the May 60 – 65 (3X1) put ratio spread is apparently bought at $2.65, 2500X, to open a new position. A shareholder might have initiated to spread to protect recent gains in the stock. WTW gapped higher on earnings on 2/17 and has added 42.7 percent since 2/16.
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.