Decoding Foot Locker's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bearish approach towards Foot Locker FL, 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 FL usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Foot Locker. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 12% leaning bullish and 87% bearish. Among these notable options, 5 are puts, totaling $468,450, and 3 are calls, amounting to $261,180.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $35.0 for Foot Locker over the last 3 months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Foot Locker stands at 2522.0, with a total volume reaching 6,245.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Foot Locker, situated within the strike price corridor from $15.0 to $35.0, throughout the last 30 days.

Foot Locker Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Foot Locker

Foot Locker Inc operates thousands of retail stores throughout the United States, Canada, Europe, Australia, and New Zealand. It also has one franchisee in the Middle East and one in South Korea, each of which operates multiple stores in those regions. The company mainly sells athletically inspired shoes and apparel. Foot Locker's merchandise comes from only a few suppliers, with Nike providing the majority. Store names include Foot Locker, Champs, and Runners Point. The company also has an e-commerce business selling through Footlocker.com, Eastbay, and Final-Score.

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

Foot Locker's Current Market Status

• Trading volume stands at 2,282,547, with FL's price down by -0.38%, positioned at $34.47.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 2 days.

Professional Analyst Ratings for Foot Locker

In the last month, 3 experts released ratings on this stock with an average target price of $32.333333333333336.

• Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Foot Locker, targeting a price of $37.
• Consistent in their evaluation, an analyst from Citigroup keeps a Sell rating on Foot Locker with a target price of $22.
• Consistent in their evaluation, an analyst from Telsey Advisory Group keeps a Outperform rating on Foot Locker with a target price of $38.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Foot Locker with Benzinga Pro for real-time alerts.