20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Financial giants have made a conspicuous bullish move on Tapestry. Our analysis of options history for Tapestry (NYSE:TPR) revealed 10 unusual trades.
Delving into the details, we found 60% of traders were bullish, while 40% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $1,045,304, and 7 were calls, valued at $401,343.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $37.5 to $47.5 for Tapestry over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Tapestry's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Tapestry's whale activity within a strike price range from $37.5 to $47.5 in the last 30 days.
Tapestry 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TPR | PUT | TRADE | BEARISH | 04/19/24 | $7.1 | $6.9 | $7.03 | $47.50 | $956.0K | 973 | 2.5K |
| TPR | CALL | SWEEP | BEARISH | 05/17/24 | $1.2 | $1.05 | $1.1 | $42.50 | $136.5K | 3.2K | 1.3K |
| TPR | PUT | SWEEP | BULLISH | 05/10/24 | $1.1 | $1.05 | $1.1 | $39.00 | $55.1K | 78 | 501 |
| TPR | CALL | SWEEP | BEARISH | 05/17/24 | $1.15 | $1.05 | $1.05 | $42.50 | $45.7K | 3.2K | 1.9K |
| TPR | CALL | TRADE | BULLISH | 05/17/24 | $4.5 | $4.4 | $4.46 | $37.50 | $44.6K | 628 | 200 |
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 (66% of fiscal 2023 sales), Europe, Asia (29% of fiscal 2023 sales), and elsewhere. Coach (75% of fiscal 2023 sales) is best known for affordable luxury leather products. Kate Spade (21% of fiscal 2023 sales) is known for colorful patterns and graphics. Women's handbags and accessories produced 69% of Tapestry's sales in fiscal 2023. Stuart Weitzman (4% of sales) generates nearly all its revenue from women's footwear. In August 2023, Tapestry agreed to acquire rival Capri and its three brands, Michael Kors, Versace, and Jimmy Choo.
Having examined the options trading patterns of Tapestry, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Tapestry's Current Market Status
- Trading volume stands at 3,349,891, with TPR's price down by -0.75%, positioned at $40.55.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 22 days.
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.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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