Financial giants have made a conspicuous bearish move on Macy's. Our analysis of options history for Macy's M revealed 9 unusual trades.
Delving into the details, we found 11% of traders were bullish, while 88% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $863,700, and 2 were calls, valued at $171,090.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $22.0 for Macy's during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Macy's options trades today is 5572.2 with a total volume of 10,230.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Macy's's big money trades within a strike price range of $15.0 to $22.0 over the last 30 days.
Macy's Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| M | PUT | TRADE | BULLISH | 01/17/25 | $1.17 | $1.02 | $1.07 | $15.00 | $321.0K | 11.2K | 3.0K |
| M | PUT | TRADE | BEARISH | 01/17/25 | $1.17 | $0.89 | $1.07 | $15.00 | $246.1K | 11.2K | 4.0K |
| M | CALL | TRADE | NEUTRAL | 05/17/24 | $0.66 | $0.55 | $0.6 | $21.00 | $125.6K | 12.9K | 2.1K |
| M | PUT | TRADE | BEARISH | 01/17/25 | $1.17 | $0.65 | $1.07 | $15.00 | $107.0K | 11.2K | 4.0K |
| M | PUT | TRADE | BEARISH | 01/17/25 | $1.17 | $0.86 | $1.07 | $15.00 | $107.0K | 11.2K | 4.0K |
About Macy's
Founded in 1858 and based in New York City, Macy's operates about 550 stores under the Macy's nameplate, nearly 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's nameplates, and 158 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses two Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances composed 61% of Macy's 2022 sales.
After a thorough review of the options trading surrounding Macy's, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Macy's
- Trading volume stands at 4,186,505, with M's price up by 0.63%, positioned at $19.18.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 57 days.
Expert Opinions on Macy's
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $23.0.
- An analyst from JP Morgan persists with their Overweight rating on Macy's, maintaining a target price of $25.
- An analyst from Telsey Advisory Group persists with their Market Perform rating on Macy's, maintaining a target price of $21.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Macy's with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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