Gildan Activewear March puts active as shares trend lower
Gildan Activewear is recently down 82c to $16.95. GIL March 15 puts have traded 45 times on transaction volume of 3,616 contracts, above its open interest of 46. GIL November option implied volatility is at 45, December is at 60, March is at 57; verses its 26-week average of 62. GIL March 15 puts have traded 45 times on transaction volume of 3,616 contracts, above its open interest of 46 according to Track Data, suggesting traders taking positions to hedge downside price movement. :theflyonthewall.com
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Gildan Activewear comments on decline in Q1 earnings results
The company cites higher cotton costs, inventory destocking by U.S. wholesale distributors, the impact of a special distributor inventory devaluation discount in the quarter and the cost of the manufacturing shutdown in December in order to manage inventory levels. :theflyonthewall.com