by Houghton and Atkeson 09/23/08
Although teenagers generally don't own homes, are they feeling the pinch of an economic slowdown? Apparently, option traders believe this to be the case.
As we review our proprietary option scans this morning, Tween Brands (TWB) -- whose brands include Limited Too and Justice -- Quiksilver (ZQK) -- which is focused on surf, ski, snowboard and skateboard markets -- and Skechers USA (SKX) -- which features urban/street focused footwear -- appear in the top 15 securities on the list.
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Given that our option systems look at all equities with options trading on them, this is an unusually high representation of a single sector at the top of the list.
In looking more closely at the trades, they involve large-scale call selling and bear-put spreads. It appears that option traders believe teens may take a time-out when it comes to shopping.
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