Retail

Options trader bets on a huge rebound for Nordstrom

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Nordstrom may have lost more than 3% in Monday’s washout — but that price action emboldened, rather than deterred — at least one options trader to make a very bullish bet on the retailer’s stock.

As of Monday’s close, Nordstrom had lost 13% in the last week of trading. This trader looks to be betting that the bottom is in, and that the stock could jump as much as 34% by August expiration.

“We saw a big put sale early in the day on 2.4 times the average daily options volume, but that put sale is really more of a bullish bet; somebody taking advantage of the fact that people are expressing a great deal of distress, willing to get long on that stock at a lower level,” Michael Khouw, chief…



Source cnbc.com

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