Traders Looking for Upside in Express, Inc. (EXPR)

Express, Inc. (EXPR) is a men’s and women’s clothing retailer selling apparel and accessories in stores and online. The company’s stock is currently trading around $15.80 in a 52 week range of $15.42-$25.05. The stock has been underperforming the market this year with shares falling more than 15% year to date. Options traders seem to think that this trend will reverse as orders hitting the tape today are very bullish. Earlier this morning a trader bought 2,000 EXPR May 15 calls for $1.27. This trader is betting more than $250,000 on upside in EXPR through May expiration. With stock just off of 52 week lows this is an aggressive countertrend setup. This does however suggest this trader has a relatively high level of bullish conviction in EXPR.

Block trader: Bought the May 15 Calls for $1.27
Risk: $127 per 1 lot
Reward: Unlimited
Breakeven: $16.27

Andrew Keene
KeeneOnTheMarket.com

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