This Is What Whales Are Betting On Tapestry

Whales with a lot of money to spend have taken a noticeably bullish stance on Tapestry.

Looking at options history for Tapestry TPR we detected 14 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 42% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $401,000 and 11, calls, for a total amount of $540,543.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $42.5 to $60.0 for Tapestry over the recent three 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 Tapestry'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 Tapestry's whale trades within a strike price range from $42.5 to $60.0 in the last 30 days.

Tapestry 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Tapestry

Coach, Kate Spade, and Stuart Weitzman are Tapestry's fashion and accessory brands. The firm's products are sold through about 1,400 company-operated stores, wholesale channels, and e-commerce in North America (64% of fiscal 2024 sales), Europe, Asia (29% of fiscal 2024 sales), and elsewhere. Coach (76% of fiscal 2024 sales) is best known for affordable luxury leather products. Kate Spade (20% of fiscal 2023 sales) is known for colorful patterns and graphics. Women's handbags and accessories produced 69% of Tapestry's sales in fiscal 2024. Stuart Weitzman (4% of sales) generates virtually all its revenue from women's footwear. In August 2023, Tapestry agreed to acquire rival Capri and its three brands, Michael Kors, Versace, and Jimmy Choo.

Tapestry's Current Market Status

• With a volume of 17,218,462, the price of TPR is up 13.72% at $50.57.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 13 days.

Expert Opinions on Tapestry

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $59.6.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Tapestry, targeting a price of $66. * Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Tapestry with a target price of $52. * An analyst from B of A Securities has decided to maintain their Buy rating on Tapestry, which currently sits at a price target of $60. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Tapestry, targeting a price of $65. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Tapestry, targeting a price of $55.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Tapestry options trades with real-time alerts from Benzinga Pro.