Retail Stock Eyes Highest Close in Three Weeks

VFC remains down 17% year-to-date, however

Deputy Editor
Apr 14, 2023 at 10:31 AM
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Goldman Sachs upgraded shares of Vans sneaker maker VF Corporation (NYSE:VFC) to "buy" from "sell," citing the company's strategic initiatives. The brokerage said VFC's improved inventory management and surprise CEO change will help the stock move higher. 

VFC is 6% higher today, last seen trading at $23.12. The stock is trading at its highest level since early March. Still, year-over-year, the shares are down 58.7% and sport a 16% year-to-date deficit, making now an intriguing entry point.

Calls have been overwhelmingly been popular, per VFC's 10-day call/put volume ratio of 19.93 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 98% of readings from the past year. So far in today's trading, 1,459 calls and 340 puts have crossed the tape so far. However, it's interesting to note that this has puts running at quadruple what's typically seen at this point. 

For those looking to get in on the action, options look like the ideal route. This is because premium is cheap at the moment, per VFC's Schaeffer's Volatility Index (SVI) of 39%, which ranks in the 18th percentile of annual readings. Plus, the security's Schaeffer's Volatility Scorecard (SVS) sits at a 96 out of 100, meaning the stock has exceeded option traders' volatility expectations during the past year -- a good thing for options buyers. 

 

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