Ann Taylor (ANN) hit a low of $35.07 in the early minutes, but it’s been straight up for the stock from that point forward. ANN is now up 80 cents to $36.90, 5.2 percnet off session lows, in relatively active trading of 1 million shares. Options volume is 6X the daily average. 6,000 calls and 100 puts so far. The flow includes a Dec 36 – 41 call spread for $1.70, 851X on ISE. Data from the exchange indicate an opening spread for a customer account — 2000X total. Separately, Dec 35 calls on the retailer are seeing action. Recent trades include a sweep of 1400 contracts for $3.50 on ISE when the market was $3.40 to $3.50 and appears to be opening activity as well. Stock now up to $36.99 and session highs. No news on the ticker to explain the recent rally.
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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.