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Why Darden Restaurants Options Suggest Further Downside Ahead

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Darden Restaurants, Inc. (NYSE: DRI) traded 18 times the average daily put volume on Wednesday. Puts outpaced calls by 3-to-1, he added.

byPriya Nigam

September 22, 2022

1 minute read

On CNBC’s “Options Action,” Michael Khouw of Optimize Advisors said that Darden Restaurants, Inc. (NYSE:DRI) traded 18 times the average daily put volume on Wednesday. Puts outpaced calls by 3-to-1, he added.

Check out other stocks making moves in the premarket.

There was a buyer of 1,000 of the October 130/115 1×2 put spreads at an average price of $2.40 per contract, Khouw mentioned. The trader expects shares of Darden Restaurants to decline by 13% by October expiration, he added.

DRI Price Action: Shares of Darden Restaurants were down 3.41% premarket Thursday at $126.80 following the company’s first-quarter report.

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