TD Ameritrade's Chief Strategist Sees Significant Call Buying On Macy's
TD Ameritrade Chief Strategist JJ Kinahan spoke to Benzinga ahead of Macy's, Inc. (NYSE: M) Q1 earnings release.
Kinahan noted that March $70 and $65 Calls saw significant buying action on Monday morning with approximately 10 times the normal amount of Call buying.
According to Kinahan, based on implied volatility, the market expected a 4.3 percent move (up or down) following the earnings release.
Heading into its Q1 announcement, Macy's closed Monday at $64.16.
Kevin Riley and Brianna Valleskey contributed to this report.
Latest Ratings for M
|Jan 2017||Deutsche Bank||Downgrades||Buy||Hold|
|Nov 2016||OTR Global||Upgrades||Negative||Mixed|
|Oct 2016||Deutsche Bank||Upgrades||Hold||Buy|
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