Foot Locker Unusual Options Activity

Investors with a lot of money to spend have taken a bullish stance on Foot Locker FL.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with FL, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Foot Locker.

This isn't normal.

The overall sentiment of these big-money traders is split between 70% bullish and 30%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $1,181,865, and 2 are calls, for a total amount of $67,425.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $20.0 to $30.0 for Foot Locker over the recent three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Foot Locker stands at 7581.0, with a total volume reaching 44,333.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Foot Locker, situated within the strike price corridor from $20.0 to $30.0, throughout the last 30 days.

Foot Locker 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Foot Locker

Foot Locker Inc operates thousands of retail stores throughout the United States, Canada, Europe, Asia, Australia, and New Zealand. It also has a presence in the Middle East. The company mainly sells athletically inspired shoes and apparel. Foot Locker's merchandise comes from only a few suppliers, with Nike providing the majority. Its portfolio of brands, includes Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos. The company has omnichannel capabilities to bridge the digital world and physical stores, including order-in-store, buy online and pickup-in-store, and buy online and ship-from-store, as well as e-commerce. It has three operating segments, North America, EMEA, and Asia Pacific.

After a thorough review of the options trading surrounding Foot Locker, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of Foot Locker

• Currently trading with a volume of 311,490, the FL's price is up by 2.31%, now at $25.95.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 75 days.

Professional Analyst Ratings for Foot Locker

5 market experts have recently issued ratings for this stock, with a consensus target price of $31.6.

• An analyst from Evercore ISI Group persists with their Outperform rating on Foot Locker, maintaining a target price of $38.
• Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Market Perform rating on Foot Locker with a target price of $27.
• An analyst from Citigroup has decided to maintain their Neutral rating on Foot Locker, which currently sits at a price target of $33.
• Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Market Perform rating for Foot Locker, targeting a price of $30.
• An analyst from Piper Sandler downgraded its action to Neutral with a price target of $30.

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 Foot Locker, Benzinga Pro gives you real-time options trades alerts.