Tiffany Puts - Upcoming reflection of the global situation
I bought puts on Tiffany as I felt like the stock was buoyed by the news of the LVMH acquisition bid last year. It did not seem to be hugely affected by the Covid virus and the potential upcoming economic slowdown implications.
With April's non-farm job numbers going to reflect rising unemployment numbers. Corporate and consumer debt also catching up. This perfect storm will be wrapped by the disappearance of China tourist spends on Luxury goods.
I believe Tiffany's stock price will be pushed to better reflect the current and future situation and have bought 130 ITM puts at 11.62 that will expire on 15 May 2020. Implied Volume of +32% (Seems like a good price)
With April's non-farm job numbers going to reflect rising unemployment numbers. Corporate and consumer debt also catching up. This perfect storm will be wrapped by the disappearance of China tourist spends on Luxury goods.
I believe Tiffany's stock price will be pushed to better reflect the current and future situation and have bought 130 ITM puts at 11.62 that will expire on 15 May 2020. Implied Volume of +32% (Seems like a good price)
Trade closed: stop reached:
Took an L here for some reason the price held up so well and so un-naturally. I'm not so sure, if anyone knows why please share.