Put Traders Respond to Big Lots' Q1 Loss

The shares opened at their lowest level in more than 30 years

Deputy Editor
May 26, 2023 at 10:28 AM
facebook X logo linkedin


Shares of Big Lots, Inc. (NYSE:BIG) have already hit a more than three-decade low of $5.67 in this morning's trading, last seen down 17%, after the company recorded disappointing first-quarter results and suspended its dividend. The discount retailer posted adjusted losses of $3.40 per share, nearly double estimates, and lower-than-expected revenue. What's more, Big Lots expects its second-quarter same-store sales to fall more than previous forecasts.

Put traders are blast BG following the results. The equity's normally quiet options pits have already seen 2,071 bearish bets traded, or 14 times the intraday average. Call traders are active too, however, with bullish volume running at six times the amount typically seen at this point. Most popular is the June 5 put. 

The equity is now on track for its worst daily percentage drop since April, heading for its sixth daily loss in seven sessions. What's more, Big Lots stock is pacing for its for its seventh weekly loss in eight, as well as its fourth consecutive losing month. In the last 12 months, BG has shed 80.8%.

Now on the short sales restricted (SSR) list, the 10.64 million shares sold short account for 38.1% of the security's available float. Meanwhile, all nine covering analysts rate the stock a "hold" or worse.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI