With brewing headwinds posing concerns about the ongoing viability of the consumer economy, discount retailer Big Lots (BIG) posted stronger-than-expected results for its second quarter. Naturally, that shock result invigorated Wall Street, leading to BIG stock moving up nearly 27% to close out the Tuesday session. Also, sentiment continued to be positive in the afterhours session, facilitating a lift of 1.63%.
Given the immediate context, it wasn’t surprising that BIG stock saw significant movement in Barchart’s screener for unusual stock options volume. However, those intrigued by the speculative opportunity must climb a wall of worry. For one thing, the Barchart Technical Opinion indicator pegs BIG as an 88% sell. Specifically, it points to negative readings for both short term and long-term indicators.
