Kohl’s (KSS) loses a dime to $51.71 in active trading of 2.7 million shares and options volume is running 3X the daily average, with 18,000 calls and 3,000 puts traded on the retailer so far. The activity includes a multi-exchange sweep of 4,264 Apr 55 calls for 20 cents and another 2,991 for 15 cents. ISEE is reporting opening buyers (firm and customer). 7,965 now traded. May 52.5 calls are the second most actives. 7,045 changed hands. Levels of implied volatility in KSS moved up 13 percent to 27, as some players are possibly taking positions in upside calls in anticipation of tomorrow’s same store sales numbers. Shares slipped 1.6 percent on 3/1 after the company reported a .8 percent decline in Feb sales. JP Morgan upgraded the stock two days ago to Neutral from Underweight.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.