High-rolling investors have positioned themselves bullish on Tapestry TPR, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in TPR often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Tapestry. This is not a typical pattern.
The sentiment among these major traders is split, with 55% bullish and 22% bearish. Among all the options we identified, there was one put, amounting to $35,340, and 8 calls, totaling $526,150.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $65.0 and $84.0 for Tapestry, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Tapestry options trades today is 690.88 with a total volume of 834.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Tapestry's big money trades within a strike price range of $65.0 to $84.0 over the last 30 days.
Tapestry Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TPR | CALL | TRADE | BULLISH | 02/07/25 | $4.8 | $4.3 | $4.8 | $81.00 | $148.8K | 633 | 391 |
| TPR | CALL | TRADE | BEARISH | 02/21/25 | $24.0 | $21.7 | $21.5 | $65.00 | $107.5K | 2.1K | 62 |
| TPR | CALL | TRADE | BEARISH | 02/14/25 | $7.3 | $6.4 | $6.6 | $79.00 | $99.0K | 218 | 215 |
| TPR | CALL | TRADE | NEUTRAL | 02/14/25 | $9.6 | $7.3 | $8.4 | $79.00 | $42.0K | 218 | 50 |
| TPR | CALL | TRADE | NEUTRAL | 02/07/25 | $16.8 | $13.9 | $15.26 | $71.00 | $38.1K | 154 | 25 |
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.
After a thorough review of the options trading surrounding Tapestry, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Tapestry
- Trading volume stands at 3,042,446, with TPR's price up by 15.81%, positioned at $84.98.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 0 days.
What The Experts Say 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 $75.0.
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. * Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Equal-Weight with a new price target of $65. * Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Outperform rating for Tapestry, targeting a price of $83. * Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Outperform rating for Tapestry, targeting a price of $83. * Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Tapestry with a target price of $74. * An analyst from UBS persists with their Neutral rating on Tapestry, maintaining a target price of $70.
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.
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