Shares of Starbucks (SBUX) were trading down 0.68 yesterday to $51.13. SBUX traded as high as $51.98 on the day.
Paper looked to sell calls and buy puts in the Dec cycle in SBUX. The Bearish Collar (selling the calls and buying the puts) traded for a .01 credit with the calls trading .17 and the puts trading .16.? A block of 10k of the SBUX Dec 55 calls traded and a block of 15k of the SBUX Dec 45 puts traded.? All the options went up on the AMEX and the trader looks to be positioning for a pullback in the short term.
30-day implied volatility is trading 29%.?? 10-day implied volatility is just under 18%.? 30 Day Implied volatility is trading well above the 10 day historical volatility.? SBUX is trading close to a three-month high.
Starbucks is a global coffee retailer. As of September 30, 2012, the company operated 9,405 company-operated stores and 8,661 licensed stores.
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