Traders Losing Faith Send Sears Bearish Bets to Record
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Concern that Sears Holdings Corp. is running out of ways to halt a sales slump has driven bearish bets on the unprofitable retailer to a record.
The department-store chain that is reeling from nine straight quarterly losses has tumbled 32 percent from a high in May. The cost of bearish options versus bullish ones is near an all-time high reached this month, even as the company said it will generate cash by selling shares in Sears Canada Inc.