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Notable spread in Jack in the Box as shares pop on earnings.

Notable spread in Jack in the Box as shares pop on earnings. The stock up $3.23 to $90.31 in the wake of results released yesterday and one investor sells 5K Apr 100 calls at $1 to buy 5K Apr 80 - 85 - 90 put butterfly spreads for $1.15. 15c paid for the four-way and action will create the largest open interest blocks in the name. The position offers a max payout if shares fall back to 5.9% to $85 through the April expiration, with potential losses piling up if shares jump another 11% or more - beyond the 100 strike short calls.

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Publication:The Fly
Date:Feb 22, 2018
Words:104
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