Traders jump on Aaron’s calls
Option trades on Aaron’s Inc. (AAN) caught our eye today. In particular, a couple of trades in the Sept. 48 call. Both trades were for 1,000 contracts. The first took place at 10:02 this morning, and the second was at 10:10. Both trades went off very high in the bid-ask spread and previous open interest at that strike was 1 contract. Based on that information, it seems likely that both of these trades were buy-to-open activity.
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About Aaron's Inc.
Aaron's is a retailer of furniture and consumer electronics. The company operates retail stores that engage in the lease ownership and retail sale of televisions, computers, tablets, mobile phones, furniture, mattresses, washers, dryers, and refrigerators. The company also offers lease-purchase solutions to customers of traditional retailers and revolving credit products to customers who may not qualify for traditional prime lending. Aaron's largest segment by revenue--sales and lease ownership--provides durable household goods to lower- to middle-income consumers with limited access to traditional credit resources. The company operates in North America.