Kohl’s (KSS) adds $1.15 to $52.09 and call options on the retailer are busy for a second day. The focus yesterday was on Nov 52.5 calls (see 10/2 color) and the activity created 2,420 contracts in new open interest. Attention has now turned to Oct 52.5 calls. 6,118 contracts have traded so far, including a multi-exchange sweep of 3,175 contracts for 90 cents apiece. It’s an opening buyer, according to ISEE data. Total volume in KSS is about 6,900 calls and 800 puts. Implied volatility is moving up 8.5 percent to 29, ahead of monthly same store sales results, tomorrow.
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.