The most traded contracts are the Mar $30 and $31 strike calls, with around 500 contracts in play at each strike against small open interest levels. Time and sales data suggests one or more traders purchased most of the $30 calls at a premium of $1.30 each while the $31 calls were picked up at a premium of $1.05 apiece. Traders long the calls may profit at expiration next month in the event that shares rally 11% and 14% to top effective breakeven prices at $31.30 and $32.05. Shares in FNP last traded above $32.05 back on January 10th. Fifth & Pacific reports fourth-quarter earnings on February 25th.
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