Shares of Kate Spade & Co. (KATE) are down .12 to 37.68 today.? ?KATE is near the upper end of the 52 week range.
Today paper traded 1643 KATE Aug 37 calls at 1.90. ?The ADV is 1292 contracts. The OI is 26 contracts.
The volume went up in 1 large block.? Another large block went up but was taken off the tape.? Call sellers have been hitting the strike all day into earnings on the 12th.? This is most likely a yield play for a buy write strategy through the cycle.? Either way traders are calling a short term top in the stock.
30-day implied volatility is 49%.?? 10-day implied volatility is 20%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Kate Spade & Co, formerly Fifth & Pacific Companies Inc, designs and markets a portfolio of retail-based, premium brands, including JUICY COUTURE, KATE SPADE and LUCKY BRAND