Markets are seeing more choppy action Tuesday as the indexes move sideways...
And we’re seeing a lot of big hedging action, mostly in tech options. But one name stuck out like a sore thumb among Tuesday’s bearish action… The “failing” New York Times.
The Gray Lady’s parent company is gearing up to report earnings ahead of Wednesday’s open, and although consensus estimates expect revenue to be in line — something is brewing in the options market.
Bearish activity was picked up and market makers are expecting a $5 move higher or lower as shares hover above the $31 mark — about a 16% move.
This isn’t a name that normally trades a lot of options. And this one order alone is 50% higher than the 30-day average options volume!
Of course, that’s not the only name hitting the tape Tuesday…
Disclaimer : The material in this document is for informational purposes based on our proprietary research. It is not an offering, specific recommendation, or a solicitation of an offer to buy or sell any securities mentioned or discussed herein.
Any performance results discussed herein represent past performance, are not a guarantee of future performance, and are not indicative of any specific investment.
Due to the timing of information presented, any investment performance reflected within this document may be adjusted after the publication and distribution of this material. There can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this communication will be profitable, be equal to any corresponding indicated historical performance levels or be suitable for your portfolio. Any investment results set forth in this document are not net of expenses and execution costs, nor do they account for other relevant trading or investment fees. Please visit wealthpress.com/terms for our full Terms and Conditions.
0 Response to "Bearish Traders Bet on Bloodbath for ‘Failing’ New York Times"
Post a Comment