SWY – Safeway, Inc. – Bullish players dominated options trading activity on the North American food and drug retailer today with shares of the underlying stock enjoying a 0.60% rally in the final hours of the session to stand at $21.43 just before 2:50 pm (ET). Investors expecting Safeway’s share price to exceed $20.00 each through July expiration sold 5,700 puts at the July $20 strike to pocket premium of $0.40 per contract. Put sellers keep the full premium received on the transaction as long as the put options fail to land in-the-money at expiration. Investors short the puts are obliged to have shares of the underlying stock put to them at an effective price of $19.60 each in the event that the July $20 strike puts land in-the-money. Safeway’s shares must decline 8.5% from the current price of $21.43 before put sellers incur losses beneath the breakeven price of $19.60.