Macys options volume is 3X daily average ahead of earnings
Macys options volume is 3X daily average ahead of earnings. The stock up 17c to $21.75 after notching 52-week lows Tuesday morning and one player buys an 8K lot of May 20 puts for 38c, tied, and seems to be bracing for volatility in shares between now and Friday. More than 10K trade at that line against 20K open interest, biggest OI in the name, and trade history shows the bulk opened 3/8 when 15K printed 63c with bid-ask 59 to 60c. May 19, Nov 30, and May 21.5 puts are next most active in the name today and total volume equals 23K calls and 44K puts. Earnings due tomorrow morning and Macy's is a big mover, with average daily post-earnings swings of 8.5% over the past eight quarters. May ATM straddle is 10% of spot price.