Macy’s Puts Are Being Bought

Macy's Puts Are Being Bought

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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