A whale with a lot of money to spend has taken a noticeably bullish stance on Macy's.
Looking at options history for Macy's M we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 63.64% of the investors opened trades with bullish expectations and 36.36% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $117,750.00 and 8, calls, for a total amount of $549,701.00.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $22.0 to $36.0 for Macy's over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Macy's's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Macy's's whale trades within a strike price range from $22.0 to $36.0 in the last 30 days.
Macy's Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| M | CALL | TRADE | BULLISH | 01/20/23 | $27.00 | $200.6K | 1.0K | 565 |
| M | CALL | TRADE | BEARISH | 03/18/22 | $22.00 | $111.0K | 998 | 208 |
| M | CALL | SWEEP | BULLISH | 01/07/22 | $24.00 | $62.9K | 3 | 217 |
| M | PUT | SWEEP | BULLISH | 03/18/22 | $31.00 | $51.3K | 284 | 79 |
| M | CALL | SWEEP | BULLISH | 02/18/22 | $25.00 | $45.7K | 1.4K | 667 |
Where Is Macy's Standing Right Now?
- With a volume of 16,115,487.00, the price of M is down -0.42% at $26.67.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 74 days.
What The Experts Say On Macy's:
- Citigroup has decided to maintain their Sell rating on Macy's, which currently sits at a price target of $29.0.
- Credit Suisse has decided to maintain their Underperform rating on Macy's, which currently sits at a price target of $32.0.
- Telsey Advisory Group has decided to maintain their Market Perform rating on Macy's, which currently sits at a price target of $40.0.
- Telsey Advisory Group has decided to maintain their Market Perform rating on Macy's, which currently sits at a price target of $33.0.
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
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