Macy’s puts are being bought.
Macy’s puts are being bought today. Put option traders are jumping on the relative weakness of M. There is an open interest for over 4 thousand puts on one position: May 25 (30 strike). While it is only May 7th, these option traders are betting heavily that the Macy’s stock price will go down. M stock ended the day at $30.03.
Macy’s Inc. is an American holding company. Owner of department store chains Macy’s and Bloomingdale’s, they are headquartered in Cincinnati.
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Macy’s will report their earnings on May 16th before market opens. The analysts’ consensus expects that M will post earnings of $0.30 per share.
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