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Options: Bears Shopping in Nordstrom
By Jud Pyle, CFA, chief investment strategist for the Options News Network
Bearish investors boosted put volume in Nordstrom (JWN Quote) during the first half hour of trading today without significant news from the fashion specialty retailer.
Looking at the Oct. 14-19 put spread, one investor bought the spread 5,000 times at $2.20 per spread with the stock trading at $18.50. The Oct. 14 puts, which are trading down two cents so far today, are home to current open interest of 441, while the near-the-money Oct. 19 puts, which have dropped eight cents, are home to current open interest of 2,881.
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