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Videos Daily Market Wrap up Zumiez (ZUMZ) unusual put activity into earnings tonight indicated a pullback in prices

Zumiez (ZUMZ) unusual put activity into earnings tonight indicated a pullback in prices

Zumiez, Inc. (ZUMZ) shares printed a new 52 week high today going into earnings. However, the intraday price action seemed to be a head fake by the bigger players as prices started to sell off aggressively into the last hour of today's session. Not only was there strong selling pressure in shares, but blocks of March 20 puts started hitting the ask side of the market (indicating buyers) as prices sold off exceeding the current open interest by 600%. Prices are trading at $18 in the after hours session. Were these put buyers lucky or did they know the news ahead of the rest of us?

 

OptionSIZZLE Elite members and OptionSIZZLE PowerFeed members received actionable alerts on the ZUMZ put activity.


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