Schaeffer's Sentiment Snapshot: Under Armour, Inc. (UA)

Thursday, January 29, 2009 5:25 PM

(Source: Business Wire) tracking

Prior to Under Armour, Inc.'s (NYSE: UA) dance in the earnings spotlight this morning, options traders were sprinting toward the bears' camp. Yesterday, the athletic-gear maker saw almost 9,500 puts change hands -- more than quintupling its average daily volume of fewer than 1,750 contracts.

The most popular pessimistic position was the February 17.50 put, which saw more than 2,800 contracts cross the tape on open interest of roughly 1,000. Meanwhile, the stock's February 15 put traded almost 2,750 contracts on open interest of only 558.

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