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 (NYSE:M) we detected 19 strange trades.
If we consider the specifics of each trade, it is accurate to state that 57% of the investors opened trades with bullish expectations and 42% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $263,821 and 13, calls, for a total amount of $1,835,973.
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 $17.0 to $32.0 for Macy's over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Macy's options trades today is 3009.82 with a total volume of 58,081.00.
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 $17.0 to $32.0 over 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 | 06/17/22 | $20.00 | $1.0M | 7.5K | 10.1K |
| M | CALL | TRADE | BEARISH | 06/17/22 | $26.00 | $120.0K | 12.5K | 10.0K |
| M | CALL | SWEEP | BEARISH | 06/17/22 | $19.00 | $115.2K | 483 | 3.7K |
| M | CALL | SWEEP | BEARISH | 05/20/22 | $18.00 | $85.2K | 130 | 2.3K |
| M | CALL | SWEEP | BULLISH | 06/17/22 | $19.00 | $70.4K | 483 | 1.1K |
Where Is Macy's Standing Right Now?
- With a volume of 11,225,979, the price of M is down -8.24% at $17.77.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 6 days.
What The Experts Say On Macy's:
- JP Morgan has decided to maintain their Neutral rating on Macy's, which currently sits at a price target of $30.
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.
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