Bears set their sights on Barnes & Noble

Barnes & Noble is drawing bearish option activity today after a new report showed that its Nook tablet is losing market share.

optionMONSTER’s Depth Charge system shows that 2,127 September 12 puts traded in a strong buying pattern for $0.85 to $0.95. Open interest in the strike was 805 contracts at the start of the session, so this is new activity.

BKS is down 4.85 percent to $12.66 in afternoon trading. The bookseller gapped higher after receiving an investment from Microsoft in late April but has since given up all those gains and more. The company is scheduled to release quarterly results in the pre-market on Tuesday.

— Option Monster

You May Also Like

About the Author: Option Monster