Yum Brands Inc (YUM) $56.97 +1.28%
Yum Brands (YUM) adds 70 cents to $56.95 and one strategist buys 11,400 Jan 45 puts on the stock for 16 cents per contract. Open interest is 35,708 and currently the largest options position in Yum. Today’s trade might close a portion of the OI and offset some of a Jan 45 – 55 bullish risk-reversal that was initiated in late-April (see 4/26 color), 32500X. Shares are up 8.7 percent since that time and the strategist is apparenty exiting some of the puts, and letting the calls ride. Open interest in Jan 55 calls is 35,310 and currenty the second biggest open position in the name.
Category: All Stocks, Large Cap Stocks, Restaurants
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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.
