J.C. Penney Company, Inc. (JCP) Highlights: New Options Trading, George Soros’ Growing Stake, Bill Ackman & More

Editor’s Note: J.C. Penney Company, Inc. (NYSE:JCP)

JCP September 13th Options Begin Trading (Forbes)
Investors in J.C. Penney saw new options begin trading today, for the September 13th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the J.C. Penney Company, Inc. (NYSE:JCP) options chain for the new September 13th contracts and identified one put and one call contract of particular interest. The put contract at the $12.50 strike price has a current bid of 93 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $12.50, but will also collect the premium, putting the cost basis of the shares at $11.57 (before broker commissions).

J.C. Penney stock up on Sterne position, Soros buy (Businessweek)
J.C. Penney Company, Inc. (NYSE:JCP) shares rose Thursday after Sterne Agee analysts took a bullish position on the struggling retailer and said that a recent drop in its stock price has made for a good opportunity to buy, and billionaire George Soros disclosed a growing stake in the company. Sterne Agee analysts Charles Grom and Renato Basanta said that the they believe that J.C. Penney’s risk versus its reward as an investment, has improved now that some of its boardroom drama is settled and the back-to-school season looks positive. They believe investors will look past the noise of the most recent quarter and focus on the company’s turnaround plan and potential for improvement.

JCP in trouble again (CNBC)

J.C. Penney Shares Rally As New York Post Sees August Turnaround (JCP) (Benzinga)
Shares of embattled retailer J.C. Penney Company, Inc. (NYSE:JCP) rallied sharply late Wednesday and into early trade Thursday following a New York Post report that August same store sales were tracking higher than forecast. They claim that J.C. Penney was benefiting nicely from back to school sales. Shares popped 40 cents on the news from $13.00 to $13.40 and traded to an overnight high of $13.73 on the news. However, J.C. Penney shares are a long way from their 52-week high of $32.55.

Will Ackman’s exit be enough to save JC Penney? (CNBC.com)
Bill Ackman suggests he doesn’t plan to sell his J.C. Penney Company, Inc. (NYSE:JCP) shares following his resignation from the board. Experts applaud the resignation following days of turmoil, but they question whether the troubled retailer can survive. Ackman’s Pershing Square hedge fund purchased JCP at about $25 per share and holds an 18 percent stake, according to the most recent filing. “If I wanted to sell I could have sold all along during the quarterly window,” Ackman told CNBC by telephone Tuesday.