Put Options on EXPR on 5/30/2017

Express, Inc. (EXPR) operates as a specialty apparel and accessories retailer.

It offers apparel and accessories for women and men between 20 and 30 years across various aspects of lifestyles, including work, casual, jeanswear, and going-out occasions.

The company sells its products through its e-commerce Website, express.com; mobile app; and franchisees Express locations in Latin America, the Middle East, and South Africa. As of January 30, 2016, it operated 653 stores in the United States, Canada, and Puerto Rico. 

Shares have formed a bearish "flag" after the Retail sector came  under selling pressure. Furthermore, the firm announced that it is selling its Canadaian stores.  

The firm is expected to report its quarterly results on June 1. We expect lower share prices for this stock.

We will be trading June 16th Put Options. 

52-Weeks Trading Range: $7.43 - $16.38

Last Trade: $8.00

Trade Buy 1 June $8.00 Put at $0.65 For a net debit of $0.65 Profit/Loss Analysis Breakeven at $7.35 Maximum profit is unbounded Maximum loss is ($65.00) at strike of $8.00 Closing Summary Sold 1 June $8.00 Put at $2.00

Position closed on 6/1/2017 at price of $2.00 with a 207.69% gain in 1 days.

Updates

6/1/2017 9:40:57 AM

EXPR $8 Put options closed at $2.00

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