Million Dollar Vote of Confidence on Coach

By Paul Price of Market Shadows

On Oct. 24, Coach's (COH) outgoing CEO and Chairman Lew Frankfort bought 21,000 shares of Coach for $1,015,980, an average cost of $48.38.

He now directly holds 2,053,141 shares. (See SEC filing.)

Frankfort's most recent previous transaction was a sale on March 31, 2012. He sold 100,000 shares for $7.7 million, an average of $77.40 per share. Maybe Mr. Frankfort is a smart of his company's equities.

Coach is a holding in our Virtual Value Portfolio. We also sold a put on COH last week in our Virtual Options Selling Portfolio.