Staples Inc (SPLS) $13.95 -5.42%
Staples (SPLS) loses 76 cents to $13.99 on earnings news, but that didn’t stop one investor from buying 16,232 Jan 17 calls that expire in 2014 for $1.15 per contract on ISE. It’s an opening customer buyer, according to ISEE. Looks tied to 190K shares at $13.83. 18,926 SPLS Jan14 17 calls were bought-to-open on ISE and 19,716 contracts traded across all the exchanges. Shares were trading near multi-month highs of $16.84 on March 26 and have lost about 17 percent since that time. Today’s 2014 call buyer might view today’s earnings-related sell-off as an opportunity for a bullish trade on the office supplies retailer.
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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.
