Jay Soloff breaks down the retail sectors.
There was quite a bit of unusual options activity this week in Macy's Inc. (M). The physical department store chain hasn't been on the radar for most investors in years. In fact, department stores in general were seemingly going the way of the dodo, especially when the pandemic hit. However, M shares got a boost in recent weeks, and the positive retail sales news (last week) looks to have made at least some investors optimistic about upcoming earnings in September. There was a decent amount of call buying in September options, which expire after earnings come out.
[embedded content]
Jay Soloff is the Options Portfolio Manager at Investors Alley. He is the editor for Options, an investment advisory bringing you professional options trading strategies, with all the bells and whistles of Wall Street, but simplified so all you have to do is enter the trades with your broker. Click here for your copy of the Beginner’s Options Guide before it’s no longer free.