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Buckle puts bought before earnings

Buckle reports earnings this week, and at least one investor is nervous.

optionMONSTER's Depth Charge tracking program detected the purchase of 2,010 March 35 puts on the retail stock for $0.55 and $0.60. Volume was 10 times open interest in the strike.

BKE is down 1.03 percent to $36.39 in morning trading. It rallied more than 50 percent between August and late 2010, then gapped higher on a strong earnings report in November, but it has been consolidating its gains since then.

News has been less positive recently, as same-store sales reports in January and February both missed forecasts. That might lead traders to expect a weak number when quarterly results come out Thursday morning.

Overall option volume in BKE is 12 times greater than average so far today, with puts outnumbering calls by more than 500 to 1.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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