Deckers (DECK) Doomed? Put Price Surges 3700%
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An ominous sign for Deckers (Nasdaq: DECK) today.
After Sterne Agee downgraded the stock two notches to Underperform Thursday, saying UGG mania appears to be gone, shares fell about 9.5 percent.
But how do investors really feel? Well, many expect more downside, and real soon. The December 87.5 put option, which stops trading tomorrow and expires Saturday, saw a 3700 percent increase in its price, to a $2.00 bid for the contract.
Now that's confidence.
Open interest on the 87.5 put is 559 contracts. PS, before the news today, that strike had basically no volume, and is now well above 200.
Deckers shares are 9 percent lower on the session.
After Sterne Agee downgraded the stock two notches to Underperform Thursday, saying UGG mania appears to be gone, shares fell about 9.5 percent.
But how do investors really feel? Well, many expect more downside, and real soon. The December 87.5 put option, which stops trading tomorrow and expires Saturday, saw a 3700 percent increase in its price, to a $2.00 bid for the contract.
Now that's confidence.
Open interest on the 87.5 put is 559 contracts. PS, before the news today, that strike had basically no volume, and is now well above 200.
Deckers shares are 9 percent lower on the session.
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