VPRT – Vistaprint N.V. – Options volume on the provider of customized printed products is up sharply on Wednesday, with more than 2,900 contracts traded so far today versus the stock’s average daily options volume of around 320 contracts. Much of the trading traffic in VPRT options appears to be the work of traders bracing for the price of the underlying to decline after the company’s first-quarter earnings report next week. The stock today is down roughly 3.5% at $54.05 as of 1:45 p.m. ET.
The most actively traded options contracts on Vistaprint today are the Nov $50 strike puts, with around 2,200 puts in play against open interest of 98 contracts. It looks like one trader purchased most of the volume at a premium of $1.15 each. The contracts may be profitable at expiration next month if shares in VPRT decline 9.6% from the current price of $54.05 to trade below the breakeven point at $48.85. The Nov $47.5 strike put options are also trading today, with around 270 contracts purchased at a premium of $0.70 apiece, establishing a breakeven level at $46.80.
Vistaprint is scheduled to report first-quarter earnings after the close of trading on Tuesday, October 29th.