Wow...........did anybody notice the option trade on the Feb 20 Call that took place at 2:24 this afternoon. It was the equivalent of 309600 shares. I have never seen this volume on one trade of Chicos options. It looks like somebody is betting a ton of money that Chicos is at 22 or
higher come February.
seems to me that either some shorts are hedging their poistions or the earnings are more positive than anticipate and the word has leaked to 'friends'. We'll know soon enough.
For the bagholders on the board, I'd like to see some signs that CHS is turning around. Good luck, Spaz
<<..did anybody notice the option trade on the Feb 20 Call that took place at 2:24 this afternoon. It was the equivalent of 309600 shares.>>
May have ben a misprint. Only 513 contracts (51,300 shares) outstanding. Symbol CHSBX. Last trade was at 50 cents. CBOE valuation at 54.36 cents.
No......you are looking at the wrong option if you are looking at the symbol CHSBX....that is the Feb 22.50 Call. I am talking about the Feb 20 Call which has a symbol CHSBD.
Something is going on............it already has another 2389 contracts as of 12:00 today. This is amazing volume for this option over the last two days.
Now the shorts are starting to shake! This news is very interesting. Somebody knows quite a bit more than most of us do.
I'm guessing most of the negative chs folks went long on chs when the p/e was in the high 40's, took a loss and now they are shorting at the other end hoping for redemption. They are ought to read "Contrarian Investing" by Anthony M. Gallea & William Patalon.
<<Somebody knows quite a bit more than most of us do.>>
Congratulations. That was one of the funniest lines I have ever read...anywhere.
<<I'm guessing most of the negative chs folks went long on chs when the p/e was in the high 40's..>>
You never did your homework when you were a kid did you. (Maybe you still are.) Anyway, you couldn't be more wrong. The same guys who are bearish today were super bearish at the highs and took beaucoup ridicule from the wild ass bulls about CHS management being so superior that the stock would keep going forever. Doubt me? Read the old messages and apologize to the old bears.
In as much that Wall St hates retailers I/m surprized by such a large purchase....unless it's the company that will be making a takeover bid soon? Could be food for upgrade rumors. We'll have all the answers on Thursday.