Elizabeth Arden, Inc. (RDEN) is a Florida based consumer beauty line manufacturer and distributor most well known for their makeup and men’s and women’s fragrance products. As of the time of this post (9:40AM CST), RDEN is currently trading at 15.49, down 0.69% on the day. The stock is currently trading just a dollar off of the 52 week lows of 14.50 which printed in late October, and it continues to press to the downside after falling over 60% from the yearly highs in April.
RDEN sold off hard yesterday on some bearish unusual options activity that hit the tape near the open. A trader bought 4,971 RDEN Jun 15 puts for $1.35. As the stock sold off these puts ripped higher. This was the most profitable trade to hit the tape yesterday. The stock sold off from $16.82 to $15.39 during yesterdays session. The puts rallied as high as $1.85 on yesterdays session and traded as high as $1.90 during today session as the stock continued to sell off. Even though the market sold off hard yesterday OptionHacker still provided a great opportunity for profits in RDEN.
Andrew Keene
KeeneOnTheMarket.com
