Ann has rallied back to a key level, and one investor is taking
profits in the women's apparel retailer.
optionMONSTER's tracking systems detected the sale of about 3,300
May 31 calls for $0.55. Volume was more than 20 times open interest
in the strike.
ANN is up 1.66 percent to $29.33 in early afternoon trading and is
up 27 percent since early February. The shares have been stalling
around the same price area where they gapped lower in May 2011,
which could lead some chart watchers to believe that it will now
Writing those calls obligates the investor to sell shares for $31
if they're above that level on expiration. Including the credit
earned, their exit price would be $31.55. He or she is probably
using the options to manage a long position in the name.
More than 3,800 contracts have traded so far in ANN, triple the
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