Financial giants have made a conspicuous bullish move on Macy's. Our analysis of options history for Macy's (NYSE:M) revealed 14 unusual trades.
Delving into the details, we found 64% of traders were bullish, while 35% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $632,618, and 5 were calls, valued at $202,650.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $10.0 and $25.0 for Macy's, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Macy's's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Macy's's substantial trades, within a strike price spectrum from $10.0 to $25.0 over the preceding 30 days.
Macy's 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| M | PUT | SWEEP | BEARISH | 01/19/24 | $16.00 | $107.9K | 1.2K | 3.0K |
| M | PUT | SWEEP | BULLISH | 02/16/24 | $20.00 | $104.7K | 3 | 3 |
| M | PUT | SWEEP | BULLISH | 01/19/24 | $16.00 | $93.6K | 1.2K | 1.5K |
| M | PUT | TRADE | BULLISH | 01/19/24 | $15.00 | $83.3K | 13.3K | 2.1K |
| M | PUT | SWEEP | BEARISH | 12/15/23 | $15.00 | $63.5K | 6.4K | 19.6K |
About Macy's
Founded in 1858 and based in New York City, Macy's operates about 550 stores under the Macy's nameplate, nearly 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's nameplates, and 158 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses two Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances composed 61% of Macy's 2022 sales.
Current Position of Macy's
- With a trading volume of 9,871,869, the price of M is down by -1.32%, reaching $17.25.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 86 days from now.
What Analysts Are Saying About Macy's
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $15.666666666666666.
- An analyst from Telsey Advisory Group has decided to maintain their Market Perform rating on Macy's, which currently sits at a price target of $15.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Macy's with a target price of $19.
- An analyst from Evercore ISI Group has revised its rating downward to In-Line, adjusting the price target to $13.
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 Macy's options trades with real-time alerts from Benzinga Pro.
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