Market Overview

TD Ameritrade's Chief Strategist Sees Significant Call Buying On Macy's

Share:
Related M
Retail's Last Hope: Store Credit Card Profits?
Target Is Better Than Macy's, Says Jim Cramer
The Most Important Lessons: Don't Ignore the Technology Stocks (GuruFocus)

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

DateFirmActionFromTo
May 2017Gordon HaskettInitiates Coverage OnHold
Mar 2017CitigroupDowngradesBuyNeutral
Feb 2017Atlantic EquitiesUpgradesNeutralOverweight

View More Analyst Ratings for M
View the Latest Analyst Ratings

Posted-In: JJ Kinahan TD AmeritradeAnalyst Color Options Exclusives Markets Analyst Ratings

 

Related Articles (M)

View Comments and Join the Discussion!