Great example today of what can happen to a forlorn company with large short interest, that modestly beats reduced earnings expectations. Newell Brands (NWL) is definitely a forlorn stock having dropped from mid 20’s down to the mid teens since this summer, as it has seen eroding sales of its eclectic mix of consumer products, poor merger integration, management turmoil, activist investor interference, and debt burdens forcing it to sell assets. Today it one of the top performers in the market jumping $2.50 to $19 per share despite missing EPS and Revenue estimates for its most recently completed quarter. But the company “reaffirmed” operating cash flow for the remainder of 2018, and that is all it took for the stock to bolt. At least one savvy large investor is using this jump to sell a gigantic 24,000 “straddle” (equal amounts of both puts and calls) on the December expiration 19 strike line, collecting $2.30 in the process. That leaves the client with a risk profile range of $21.30 to $16.70 ($19 +/- $2.30) for the next 7 weeks, hoping that the stock remains within that range over that period in order to capture much of that premium income.