Aug. 22 at 2:15 AM
$BIRK looking interesting today
Saw some aggressive action with September
$40 calls after that 10% drop
Traders are clearly betting on a bounce with today’s 3% rebound
Just before 11:00 ET, three big blocks of Sep 18
$40 calls hit around
$0.55 to
$0.60 on InsiderFinance
That's about 2,888 contracts and with over 90% of today’s option premium in these calls, it’s all about upside exposure
Even with the 3.2% bounce today,
$BIRK is still down about 10% over the past week
So keep in mind, these are tactical plays, not long-term swings
Full-year guidance is up and
