Options Spy: Nike shares record 10 straight losses, put volume increased
Nvidia released better-than-expected earnings, up more than 7 percent in the premarket, technology stocks were on a tear, all major U.S. stock indexes closed higher on Wednesday, and U.S. Treasury rates fell.
Fed Chair Janet Bauer will speak Friday at an annual central bank conference in Jackson Hole, Wyo. Ms. Bauer is likely to use the speech this week to reveal how the central bank decides whether to raise rates and when.
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Option buyer open position (Single leg)
Highlight order:
Buy TOP T/O: $BURL 20230825 165.0 CALL$ $TSLA 20230825 270.0 PUT$
Buy TOP Vol: $FTCH 20240119 3.5 CALL$ $M 20240119 11.0 PUT$
$Burlington(BURL)$ Burlington Stores reported better-than-expected second-quarter results. Earnings per share (EPS) for the quarter were $0.60, $0.17 higher than the $0.43 expected by analysts. The company reported revenue of $2.17 billion for the quarter, slightly above the consensus estimate of $2.16 billion. Same-store sales were up 4%.
$Farfetch Ltd(FTCH)$ announced its financial results on the 21st, announcing that the company's net profit for the second quarter of fiscal year 2023 was -272 million US dollars, a year-on-year decrease of 485.93%; Operating income was $572 million, down 1.21%, and basic earnings per share was negative $0.68.
$Macy's(M)$ Kohl's and Macy's also kept their annual targets unchanged despite second-quarter profit that beat expectations, with the latter warning of weak demand and a faster-than-expected increase in credit card payment delays.
Note: This image data is from Tiger PC. This screening is a significant buy open position for options contracts in the market. The purchase of a call option means that the trader believes that the underlying has upward momentum, and the purchase of a put option means that the trader believes that the underlying has downward momentum. These contract openings typically indicate significant activity in the underlying stock, including whether the trader is willing to accumulate a long or short option position.
Option seller open position (Single leg)
Highlight order:
Sell TOP T/O: $NKE 20230825 108.0 PUT$ $CVS 20230915 75.0 PUT$
Sell TOP Vol: $UNP 20231020 245.0 CALL$ $X 20231020 29.0 CALL$
$Nike(NKE)$ as Foot Locker, the largest shoe distributor in North America, reported second-quarter results that were much worse than market expectations, Nike followed suit again, closing down 2.7%, its 10th consecutive day of declines, the longest losing streak since Nike went public in 1980.
$CVS Health(CVS)$ CVS Health shares are already down 28 percent in 2023. The company's business has been disappointing this year, with profits down 37 percent in the most recent quarter. There was also recent news that Blue Shield of California would use benefit managers from other pharmacies to limit its exposure to CVS.
$U.S. Steel(X)$ fell 1.8 percent, extending losses from the previous session after Esmark decided to abandon its bid for the alloy maker.
$Union Pacific(UNP)$ The Association of American Railroads (AAR) reported Wednesday that for the week ending Aug. 19, 2023, U.S. rail traffic was 478,853 cars and intermodal units, down 2.7 percent from a year earlier.
Note: This image data is from Tiger PC. This screen is a significant sell open position for an option contract in the market. A sell of a call option means that the trader believes that the underlying trend has peaked, and a sell of a put option means that the trader believes that the underlying trend has bottomed. These contract openings typically indicate significant activity in the underlying stock, including whether the trader is willing to accumulate a long or short option position.
Options portfolio open position
Note: This image data is from Tiger PC. This screening is a significant portfolio of options contracts in the market. Portfolio opening includes a variety of underlying trends, requiring traders to further master the basic knowledge of options for analysis and judgment.
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