Today’s tickers: WEN, JNPR, VIX, CLX, BBY, AAPL & AXP
WEN – Despite the 2% decline in shares to $4.59 today, WEN was flooded by investors looking for bullish call options in the September contract. Approximately 9,000 calls were coveted by fans of the Frosty at the September 5.0 strike price for an average premium of 32 cents apiece. Investor’s long the calls are hoping the stock rises at least 16% through the breakeven point at $5.32 by expiration. The 10,861 option contracts exchanged on the stock today represents more than 66% of the existing open interest for WEN of 16,325 lots. We note that Wendy’s/Arby’s Group shares have not traded higher than $5.32 since April 29, 2009. – CBOE Volatility Index
VIX – Investors were found wading through molasses today helped by better earnings from Apple, but disappointed by financial companies, where the sector exemplified the view that it’s not plain sailing from here. The volatility…