Staples (SPLS) has added 28 cents to $16.65 and volume in Jul 15 puts on the office supplies retailer is 13,395 contracts. There is no existing open interest and most of the volume has traded on the 15-cent bid. Some investors might be selling the contract on the view shares will hold above $15 through the July expirations. SPLS sank 15.4 percent Wednesday on disappointing earnings news and is down 21.2 percent month-to-date.
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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.