Options Trader Bets On A Huge Rebound For Nordstrom

Nordstrom may have lost more than 3% in Monday’s washout — but that price action emboldened, rather than deterred — at least one options trader to make a very bullish bet on the retailer’s stock. As of Monday’s close, Nordstrom had lost 13% in the last week of trading. This trader looks to be betting that the bottom is in, and that the stock could jump as much as 34% by August expiration. “We saw a big put sale early in the day on 2.4 times the average daily options volume, but that put sale is really more of a bullish bet; somebody taking advantage of the fact that people are expressing a great deal of distress, willing to get long on that stock at a lower level,” Michael Khouw, chief investment officer at Optimize Advisors, said Monday on CNBC’s “Fast Money.” Read more at CNBC.