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Constellation Brands Put Options In Play Ahead Of Q4 Earnings

Put options are changing hands on the wine, beer and spirits company today, perhaps as traders look ahead to the release of fourth-quarter earnings from Constellation Brands on April 9th prior to the opening bell. Shares in the name are today trading higher by 1.25% to stand at $83.10 just before 3:00 p.m. ET.

The most traded contracts on STZ as of the time of this writing are the April $77.5 and $80 strike puts, with more than 1,300 options in play at each striking price. It looks like one or more traders purchased most of the contracts, paying an average premium of $0.885 per contract for the $77.5 strike puts, and shelling out an average premium of $1.39 each for the higher $80 strike put options. Put buyers may profit at expiration next month in the event that shares in Constellation Brands slide roughly 8.0% and 5.0% from the current level to breach the average breakeven prices of $76.615 and $78.61, respectively.


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