Option Millionaires

[jimmybob]

Bearish flow in Bloomin Brands
Bearish flow in Bloomin Brands. The stock is off 12c to $17.29 and Oct 17.5 puts have been trading across the exchanges for 55 to 60c per contract. More than 3K traded at that strike. 63% of the flow traded electronically on ISE and data from the exchange indicate that customers are buying-to-open. If so, the activity is on pace to open the second largest open interest block in the name, behind the 3.5K in the April 20 calls. The Oct 17.5 puts are currently 21c in the money, with 460 contracts of OI, and expiring 22 days. Earnings were last reported on 7/29 and expected again on 11/1. 30-day implied volatility is up 4.5% to 31.5 Wednesday