Wyndham Worldwide has been battling its way higher, and traders
apparently believe that the hotel operator's stock is on solid
optionMONSTER's systems detected the sale of about 1,600 January 32
puts for $0.65 to $0.80 against open interest of 1,346 contracts.
The trade reflects a belief that WYN will remain above $32 for the
next five weeks.
If it falls below that level, the investor will be required to buy
shares at the strike price. But including the credit earned, the
effective entry price would be around $31.30. (See
by Chris McKhann)
WYN fell 1.72 percent to $34.23 yesterday and but is up more than
20 percent since the start of October. It has also been holding
near its highest levels since August 2007, which could be leading
some chart watchers to believe that it's in better shape than the
broader market. WYN has also held up better than most other hotel
names, such as Hyatt and Marriott.
Overall option volume in WYN was triple the daily average in
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