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Schaeffer's Sentiment Snapshot: Wyndham Worldwide Corporation (WYN)


Published on 2009-02-17 12:02:17, Last Modified on 2009-02-17 12:02:44 - Market Wire
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CINCINNATI--([ BUSINESS WIRE ])--Bearish options bettors bombarded Wyndham Worldwide Corporation (NYSE: WYN) on Friday, after the hospitality firm said it might offer stock at prices below previous buybacks. Following the company's trip into the earnings confessional, WYN saw nearly 7,400 puts change hands – more than 7 times the stock's average daily volume of fewer than 1,000 contracts.

Most of the pessimistic positions centered around the equity's February 5 put, which saw about 7,000 contracts cross the tape on Friday. This strike is home to peak put open interest in the front-month series – which expires this Friday – with almost 3,900 contracts in residence.

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