Coach (COH) loses $2.13 to $51.87 and options volume is running 2X the daily average, being led by a bearish three-way. The strategist sold 1200 Nov 57.5 calls to buy the Nov 50 – 43 put spread, 1200X. 30 cents was collected on the package and is possibly a bet that shares of the luxury goods company will continue fo feel the weight of a slowing global economy. COH rallied in the early days of July and hit a 52-week high of more than $69 on the 7/7. The gains didn’t last, however, and the stock is set to finish the quarter down 18.7 percent.