Put Options on ANF on 8/26/2013

Abercrombie & Fitch (ANF) operates as a specialty retailer of casual apparel for men, women, and kids.

It operates through three segments: U.S. Stores, International Stores, and Direct-to-Consumer. The company sells various products, including casual sportswear apparel comprising knit and woven shirts, graphic T-shirts, fleece, jeans and woven pants, shorts, sweaters, and outerwear; personal care products; and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, and Hollister brand names.

It also offers bras, underwear, personal care products, sleepwear, and at-home products for girls under the Gilly Hicks brand.

As of August 3, 2013, the company operated 1,057 stores comprising 265 Abercrombie & Fitch stores, 144 abercrombie kids stores, 478 Hollister Co. stores, and 20 Gilly Hicks stores in the United States; and 20 Abercrombie & Fitch stores, 6 abercrombie kids stores, 116 Hollister Co. stores, and 8 Gilly Hicks stores internationally. 

Shares have formed a bearish "flag" after the firm reported poor quarterly results and guided lower, going forward. Lower share prices are expected for this stock.

52-Week Trading Range:  $30.06 - $55.23

Last Trade:  $38.77

Here is the trade:

Buy One September $39 Put Option for less than $1.70

Trade Buy 1 September $39.00 Put at $1.70 For a net debit of $1.70 Profit/Loss Analysis Breakeven at $37.30 Maximum profit is unbounded Maximum loss is ($170.00) at strike of $39.00 Closing Summary Sold 1 September $39.00 Put at $2.68

Position closed on 8/27/2013 at price of $2.68 with a 57.65% gain in 1 days.

Updates

8/27/2013 10:23:38 AM

We are closing ANF Put option at $2.68

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