Tuesday August 25, 08:36 PM
STOCKS NEWS US-Discount retailer Fred's gets option bears
Stocks on the move
Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
1510 ET 25Aug2009 Fred's
put volume pops up before results
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Discount retailer Fred's Inc reports quarterly results on
Thursday, and 'some bears are already in the checkout line,' said optionMonster
analyst David Russell in comments on the Web site. Its shares fell 2 cents to
$13.21 in afternoon trade. The stock's put volume swelled as about 10,000
contracts traded vs. only 2 calls, on combined volume that was 20 times the
norm, according to Trade Alert. optionMonster's tracking system detected the
purchase of 2,500 Sept $12.50 puts for a premium of 40 cents, spread against
the sale 2,500 Sept $10 puts for five cents per contract. No open interest
existed in either strike before the order. The bearish put spread cost a net of
35 cents and will earn a 1,328 percent profit if the shares close at or below
$10 by expiration, he said. It was the second day of unusual and potentially
bearish options action, according to optionMonster. On Monday, an investor sold
about 10,000 Nov $15 calls for 45 cents against open interest of 1,528
contracts.
1500 ET 25Aug2009-Alaska Air (NYSE: ALK - news) shares hit six-month high
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Shares of Alaska Air Group rallied to their highest level in six
months after an analyst raised earnings estimates for the company, citing its
solid performance compared with its peers.
Alaska Air was up 13.3 percent at $26.47 in mid-afternoon trading. For
details, see
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