Deep-pocketed investors have adopted a bearish approach towards Macy's M, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in M usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Macy's. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 12% leaning bullish and 75% bearish. Among these notable options, 5 are puts, totaling $177,590, and 3 are calls, amounting to $238,400.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $16.0 and $21.0 for Macy's, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Macy's's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Macy's's substantial trades, within a strike price spectrum from $16.0 to $21.0 over the preceding 30 days.
Macy's Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| M | CALL | SWEEP | BULLISH | 11/15/24 | $3.75 | $3.05 | $3.75 | $16.00 | $123.7K | 607 | 1 |
| M | CALL | TRADE | BEARISH | 11/15/24 | $3.5 | $2.9 | $2.9 | $17.00 | $72.2K | 197 | 1 |
| M | PUT | SWEEP | BEARISH | 07/19/24 | $0.66 | $0.5 | $0.66 | $18.00 | $59.4K | 14.6K | 4 |
| M | CALL | TRADE | BEARISH | 08/16/24 | $0.51 | $0.34 | $0.4 | $21.00 | $42.4K | 4.2K | 132 |
| M | PUT | SWEEP | BEARISH | 07/19/24 | $0.61 | $0.58 | $0.61 | $18.00 | $32.6K | 14.6K | 2.2K |
About Macy's
Founded in 1858 and based in New York City, Macy's operates about 500 stores under the Macy's nameplate, nearly 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's nameplates, and 159 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances composed 62% of Macy's 2023 sales.
Having examined the options trading patterns of Macy's, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Macy's Standing Right Now?
- With a trading volume of 3,250,265, the price of M is down by -2.15%, reaching $18.66.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 54 days from now.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Macy's, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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