Gap (GPS) and Aeropostale’s (ARO) which forecast lower 2011 guidance have contributed to the decrease in shares of rival American Eagle Outfitters (AEO) and Abercrombie & Fitch (ANF).
Gap is recently down 16%. June option implied volatility of 29 is near its 26-week average of 31.
Aeropostale’s is recently down 15%. June option implied volatility of 36 is below its 26-week average of 40.
American Eagle Outfitters is recently down 7%. June call option implied volatility of 44 is above its 26-week average of 39.
Abercrombie & Fitch is recently down 5.9%. June call option implied volatility of 33 is below its 26-week average of 38 according to Track Data.
CBOE Volatility Index-VIX up 62c to 16.14; S&P 500 recently down 0.37% into May expiration.