Safeway Inc (SWY) $17.96 -1.32%
Safeway (SWY) is off 26 cents to $17.94 and at-the-money June 18 puts on the grocery chain are seeing opening activity today ahead of the expiration. The company scheduled a conference call this morning to address unfounded speculation that it is struggling to obtain short-term financing. Looks like some players were bracing for bad news. 8,450 Jun 18 puts traded on the grocery chain today against 1,102 in open interest. The market is now 10 to 20 cents and the contract is 6 cents in-the-money. The call started at 11:00 EDT (link). June options expire after today. (Whatstrading Premium Alert Sample — first posted at 12:58 EDT).
Category: All Stocks, Mid Cap Stocks, Retail
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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.
Apparently there were technical issues that prevented some people from accessing Safeway's call and the company said it would send out transcripts later — in a week or two. This is unconfirmed, but that's what I'm hearing on SWY. Shares now falling to session lows.