Market Currents
Express (EXPR -22.2%) shares were steamrolled after the clothing retailer cut its earnings...
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Tuesday, October 2, 2012, 6:15 PM ETExpress (EXPR -22.2%) shares were steamrolled after the clothing retailer cut its earnings forecast but option traders took a contrarian view, as traders turned to options expiring early next year to bet today’s rout was overdone. More than 1,100 contracts were traded vs. a daily average of 239 over the past month; trading in bullish call options outpaced bearish contracts by 2.4-to-one.
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