Pre-Earnings Bullish Bets On Saks Inc (SKS) Pay Off As Retailer Rallies

Arkansas Best Corporation (NASDAQ:ABFS) – Call options on freight transportation services provider, Arkansas Best Corporation (NASDAQ:ABFS), are active today, with shares in in the name rising more than 6.0% to a fresh 52-week high of $18.83. Shares in Arkansas Best Corporation (NASDAQ:ABFS) have increased more than 90% during the past three weeks. Traders positioning for further upside in the price of the underlying snapped up roughly 1,500 calls at the Jul $20 strike for an average premium of $1.18 per contract. Call buyers make money if shares in Arkansas Best Corporation (NASDAQ:ABFS) rally another 12.5% over today’s high of $18.83 to top the average breakeven price of $21.18 by July expiration. Shares in Arkansas Best Corporation (NASDAQ:ABFS) last traded above $21.18 back in January of 2012.

Caitlin Duffy
Equity Options Analyst

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