Staples Traders See Rally After Decade’s Biggest Drop: Options
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Staples Inc.’s biggest stock plunge since 2000 is luring bullish options traders, who are lifting bets to an eight-year high that the world’s largest office-supply retailer will rally.
There are 3.04 calls to buy the stock for each put and the ratio reached 3.21 on Sept. 19, the highest since June 2003, according to data compiled by Bloomberg. Open interest in options to buy the shares for $15 by January 2013 has jumped by 19,310 contracts in the past two weeks for the biggest gain. The stock rallied 1.1 percent to $14.89 today.