Puts Purchased on The Cheesecake Factory (CAKE)
December 22, 2010 11:51 AM
Shares of The Cheesecake Factory (NASDAQ: CAKE) are lower on the session by 1.56%, currently trading at $31.61. The stock has been moving largely higher over the past six months and is currently trading above the 50-day and 200-day moving averages.
Options traders are buying puts on the name today. A short while ago the January 2011 $33.00 put was purchased 1,200 times, on the offer, on open interest of only 383 contracts. This signals new positioning on the name.
Overall put volume is now running at 3.31x the daily average with 90% of all puts traded being purchases on the offer.
The Cheesecake Factory Incorporated operates in the restaurant industry. As of February 26, 2010, the company operated 161 upscale, casual, full-service dining restaurants: 147 under The Cheesecake Factory mark; 13 under the Grand Lux Cafe mark, and one under the RockSugar Pan Asian Kitchen mark.
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