Trade of the Day: Deckers Outdoor Corp (NYSE:DECK)

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Today, we’ll open up a bearish trade on Deckers Outdoor Corp (NYSE:DECK). They’re in the business of designing, marketing and distributing footwear, apparel and accessories for both casual lifestyle and high performance use.

Although DECK is up 19.15% year-to-date, the chart appears to be topping and setting lower price lows, coughing up 7.26% in the most recent month of trading alone. Much of the hit is attributed to an analyst downgrade ($49 price target) as growth concerns surfaced regarding the company’s UGG “discount” sheepskin boots that account for roughly $2 billion in sales each year.

Buy to open the Deckers Outdoor (DECK) December 16th $50 Puts (DECK161216P00050000).

Note: This is a relatively thinly-traded option chain, so you may need to be patient when attempting to establish a position.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/10/trade-day-deckers-outdoor-corp-nyse-deck/.

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