Estee Lauder (EL) is off 28 cents to $58.62 and one strategist sells 2000 Mar 62.5 calls on the stock at $1.16 to buy 2000 Mar 52.5 – 57.5 call spreads for $1.54; paying 38 cents for the three-way to open a new position. Bearish trading in EL comes ahead of earnings, tomorrow morning.
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.