Those who bought thismorning as shares hovered between 11.20 to 11.35 should be smiling now. Shares have definitely been oversold in the past 7 trading sessions. For those who are looking to establish hedged positions, consider writing either june strike 12 (slightly out of the money) for 1.05/contract or strike 11 for 1.65/contract. Both offer great intrinsic time value against the current underlying shares.
Once again, M shares are the cheapest relative to any retail stock in the sector. Stock should be trading north of 20 according to EDIBTA