Third day of large put option blocks in Bed, Bath and Beyond
Third day of large put option blocks in Bed, Bath and Beyond. The stock flat at $15.23 Monday and 10K Feb 15 puts bought for 75c, to open. The interest comes after 20K May 12.5 puts were bought to open Friday. A big trade printed Thursday as well, with paper buying to open 33K Jan 11 puts and 20K Jan 13 puts (while closing 65K Jan 10 puts, 20K Jan 15 calls, and 10K Jan 17.5 calls, which were legs of long strangles opened in September and October - while open interest numbers Friday didn't reflect the closing activity in the Jan 10 puts ,Jan 15 calls, and Jan 17.5 calls, the numbers updated Monday and confirm the color I wrote Thursday). In any event, the interest in Jan 11 puts Jan 13 puts, and May 12.5 puts last week and the block of Feb 15 puts today reflects concerns that recent gains in shares won't hold - the stock rallied 16.6% Thursday last week after earnings.