Smart Money Is Betting Big In CPRI Options - Capri Holdings (NYSE:CPRI)

High-rolling investors have positioned themselves bullish on Capri Holdings (NYSE:CPRI), and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CPRI often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 8 options trades for Capri Holdings. This is not a typical pattern.

The sentiment among these major traders is split, with 50% bullish and 37% bearish. Among all the options we identified, there was one put, amounting to $46,000, and 7 calls, totaling $358,060.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $50.0 for Capri Holdings, spanning the last three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Capri Holdings stands at 4074.8, with a total volume reaching 1,435.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Capri Holdings, situated within the strike price corridor from $40.0 to $50.0, throughout the last 30 days.

Capri Holdings Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
CPRI	CALL	TRADE	BEARISH	11/01/24	$3.9	$2.9	$3.3	$45.00	$163.0K	245	609
CPRI	PUT	TRADE	BEARISH	11/01/24	$4.6	$3.4	$4.6	$41.50	$45.9K	6	100
CPRI	CALL	SWEEP	BULLISH	12/20/24	$9.8	$9.3	$9.8	$40.00	$45.0K	823	83
CPRI	CALL	TRADE	NEUTRAL	11/01/24	$5.0	$1.45	$3.5	$45.00	$35.0K	245	0
CPRI	CALL	SWEEP	BULLISH	12/20/24	$10.0	$9.0	$10.0	$40.00	$31.0K	823	31

About Capri Holdings

Michael Kors, Versace, and Jimmy Choo are the brands of Capri Holdings, a marketer, distributor, and retailer of upscale accessories and apparel. Michael Kors, Capri's largest brand, offers handbags, footwear, and apparel through more than 700 company-owned stores, wholesale, and e-commerce. Versace (acquired in 2018) is known for its ready-to-wear luxury fashion, while Jimmy Choo (acquired in 2017) is best known for women's luxury footwear. John Idol has served as CEO since 2003.

After a thorough review of the options trading surrounding Capri Holdings, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Present Market Standing of Capri Holdings

Currently trading with a volume of 858,402, the CPRI's price is down by -0.5%, now at $41.6.
RSI readings suggest the stock is currently may be approaching overbought.
Anticipated earnings release is in 14 days.

What Analysts Are Saying About Capri Holdings

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $42.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * In a cautious move, an analyst from Wells Fargo downgraded its rating to Equal-Weight, setting a price target of $42.

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 Capri Holdings with Benzinga Pro for real-time alerts.

CPRICapri Holdings Ltd

$21.33-%

Overview

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