ZAGG is down 61 cents to $9.31 along with the broader market Wednesday and one player buys 15,000 May 16 calls on the apparel retailer for 23 cents per contract. It probably closes one let of a May 13 – 16 1X2 call ratio spread, bought on 11/15, for 20 cents, 7500X. The stock is down almost 20 percent since that time and the 16s are being bought close. The 13s are apparently still open heading into a Feb 27 earnings report.
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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.