OptionWatch

Downside April Puts Trade in The Wendy’s Company (Symbol: WEN)

Articles From: Interactive Brokers
Website: Interactive Brokers

By:

Sr. Trading Education Specialist

Interactive Brokers

This morning over 3,000 out-of-the-money puts in The Wendy’s Company (Symbol: WEN) traded.  A 1,000 contracts traded in the WEN April 21 ’23 19 puts and 2,400 contracts traded in the April 21 ’23 18 puts.  The puts currently are a six and five delta respectively and are 2.1 standard deviations away from the underlying. WEN is set to release earnings in early to mid-MAY so these options are not an earnings play but may be either a trader hedging downside risk or taking a bearish position over the next 18 trading days. WEN has a 52-week high of $23.78 and a 52-week low of $15.47.

WEN has a 52-week high of $23.78 and a 52-week low of $15.47.
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