Macy's's Options: A Look at What the Big Money is Thinking - Macy's (NYSE:M)

Deep-pocketed investors have adopted a bullish approach towards Macy's (NYSE:M), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in M usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 19 extraordinary options activities for Macy's. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 68% leaning bullish and 31% bearish. Among these notable options, 3 are puts, totaling $272,330, and 16 are calls, amounting to $520,822.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $18.0 to $25.0 for Macy's during the past quarter.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Macy's's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Macy's's significant trades, within a strike price range of $18.0 to $25.0, over the past month.

Macy's Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
M	PUT	TRADE	BULLISH	03/08/24	$22.00	$108.4K	1	2.2K
M	PUT	SWEEP	BULLISH	06/21/24	$24.00	$83.4K	23	207
M	PUT	SWEEP	BULLISH	03/08/24	$22.00	$80.4K	1	969
M	CALL	SWEEP	BULLISH	03/15/24	$20.00	$52.0K	16.8K	1.7K
M	CALL	SWEEP	BULLISH	03/15/24	$19.00	$45.7K	4.2K	338

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.

In light of the recent options history for Macy's, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Macy's's Current Market Status

Trading volume stands at 11,222,798, with M's price up by 14.05%, positioned at $20.54.
RSI indicators show the stock to be may be approaching overbought.
Earnings announcement expected in 87 days.

What The Experts Say On Macy's

5 market experts have recently issued ratings for this stock, with a consensus target price of $19.6.

Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Market Perform rating on Macy's with a target price of $21.
Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Macy's, targeting a price of $20.
An analyst from Goldman Sachs has decided to maintain their Buy rating on Macy's, which currently sits at a price target of $22.
An analyst from TD Cowen downgraded its action to Market Perform with a price target of $20.
Reflecting concerns, an analyst from Telsey Advisory Group lowers its rating to Market Perform with a new price target of $15.

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.

MMacy's Inc

$22.64-%

Overview

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