Skechers Puts Active On EPS Miss (SKX)

Shares of shoe maker Skechers SKX are sharply lower on the day following the release of their Q3 numbers. Their EPS came in below expectations, 74c vs. consensus $1.02. SKX shares are trading down 18% to the 19.40 level, down 4.225 points on heavy volume of 11 million shares. Skechers' three month average volume is 2.2mil shares a day. Options traders are speculating on further downside in SKX as they focused on the 18 and 19 November put strikes with nearly 5k trading agaisnt around a 1k contracts open interest on the 19 and 18 put strikes combined. Implied volatility is up to the 49 level. Skechers SKX Day's Range: 19.01 - 19.95 52wk Range: 19.01 - 44.90