Put Options on COH on 9/12/2016

Coach, Inc. (COH) provides luxury accessories and lifestyle brands.

It offers handbags, money pieces, wristlets and cosmetic cases, key rings, and charms for women; and business cases, computer bags, messenger-style bags, backpacks, totes, wallets, card cases, belts, time management, electronic accessories, and ready-to-wear for men.

The company also provides footwear; seasonal lifestyle apparel collections, including outerwear and ready-to-wear, and cold weather accessories, such as gloves, scarves, and hats; jewelry consisting of bracelets, necklaces, rings, and earrings made with sterling silver, leather, and non-precious metals; sunglasses; watches; and fragrances comprising eau de perfume sprays, eau de toilette sprays, purse sprays, and body lotions.

In addition, it offers weekend and travel accessories, travel bags, and other lifestyle products. Further, the company holds licensing rights to market and distribute footwear, eyewear, watches, and fragrances under the Coach brand name. 

The Company reported its quarterly results on August 22nd. The company reported its gross margins declined. Since then, shares have declined and fallen below a support level. Lower share prices are expected for this stock.

We will be trading October 6th Put options.

52-Weeks Trading Range: $27.22 - $43.71

Last Trade: $36.59

Trade Buy 1 October $37.00 Put at $0.90 For a net debit of $0.90 Profit/Loss Analysis Breakeven at $36.10 Maximum profit is unbounded Maximum loss is ($90.00) at strike of $37.00 Closing Summary Sold 1 October $37.00 Put at $0.35

Position closed on 10/7/2016 at price of $0.35 with a -61.11% loss in 25 days.

Updates

10/7/2016 12:09:09 PM

COH $39 Put option closed at $0.35.

This option becomes worthless in 4 hours unless it is traded or exercised.

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