United Postal Service. UPS May 2008 70 puts only $1.00. Earnings Wednesday morning. Buy puts Tuesday, April 22,2008. High fuel costs should hurt them.
Are you under the impression tha high fuel costs is something only you figured out and the market who priced those options didnt realize?
but the 70 put is cheap at $1 for a stock trading at ~$71. And the technical looks pretty good for a short, ma10 just crossed ema20/30 on the downside along with cmf going negative. In for 10 contract at $1.1 for an earning bet. Will exit wed if it doesnt work out.
non-event. earning was negative news but not bad enough to cause any good movement. If the market continues sideway, i doubt UPS will break the 70 support to the downside.