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Schaeffer's Option Blog: Put Volume Perks Up on Starbucks Corporation (SBUX)
Business Wire, June 19, 2009
CINCINNATI -- Starbucks Corporation (NASDAQ: SBUX) attracted a slew of put traders on Thursday, after the java giant recalled more than half a million coffee grinders. According to data from WhatsTrading.com, the equity saw nearly 8,750 puts cross the tape yesterday, more than doubling its average single-session volume of roughly 4,000 contracts.
Most active was the July 14 put, which saw about 5,700 contracts change hands yesterday. The at-the-money option – which assumes front-month status after the closing bell today - saw open interest climb from 5,948 to 10,932 overnight, suggesting most of the activity was of the buy-to-open variety. What's more, the SBUX July 14 put remains popular today, with nearly 1,800 contracts exchanged within the first hour of trading.
To continue reading this article, click here: http://www.schaeffersresearch.com/marketcenters/optionscenter/default1.aspx?id=93650&source=businesswire
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