They have around 2 weeks left..plenty of time to be quite effective should Thursday's earnings release come in as we expect.
We were on this one after last earnings call and as you can see below, it tanked big time.
Actually, it was down +20% by the next morning!
We read the earnings transcript which basically blamed the poor performance on bad weather..kept patrons out of their stores..
October's weather was nothing compared to what we've seen in the past few months..so, this could get ugly.
Bottom line, buying Puts this close to expiration(cheaper that way) is purely a play on Thursday's earnings call..