Micron Technology, Inc. (MU) Calls Change Hands At A Clip Ahead of Earnings After The Close

The Men’s Wearhouse, Inc. (NYSE:MW) – Options volume on apparel retailer, The Men’s Wearhouse, Inc. (NYSE:MW), is running at more than twice the stock’s average daily level as of midday in New York today after the company announced the ousting of founder and chairman, George Zimmer. Shares in the name are down 2.4% at $36.58 as of 12:10 p.m. ET. Put options are outpacing calls, with the put/call ratio hovering around 4.1, as some traders brace for shares in The Men’s Wearhouse, Inc. (NYSE:MW) to extend losses. July expiry puts are seeing the most volume, with fresh interest concentrated at the $36 and $37 strikes. Upwards of 1,400 contracts are in play at each strike as of the time of the writing. Traders appear to have purchased most of the Jul $35 strike puts for an average premium of $0.80 apiece, and may profit at expiration if shares in The Men’s Wearhouse, Inc. (NYSE:MW) slump 6.5% from the current level to breach the average breakeven point at $34.20. Time and sales data suggests mixed trading in the Jul $36 strike puts, with roughly equal numbers of contracts purchased and sold.

Caitlin Duffy
Equity Options Analyst

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