Kohl's Stock Stages Dramatic Drop After Earnings

KSS is still down more than 16% in 2023, though

Deputy Editor
Nov 21, 2023 at 10:18 AM
facebook X logo linkedin


The shares of Kohl's Corporation (NYSE:KSS) are 12.2% lower at $21.82, after the retailer reported a bigger-than-expected drop in sales for the third quarter, as shoppers were pressured by high inflation. Same-store sales were lower too, also coming in well below forecasts and leading Kohl's to lower its full year same-store sales outlook to the low end. 

Bearish options traders are targeting KSS after the news, with 11,000 puts crossing the tape so far -- nine times the intraday average amount -- while 9,700 calls have also exchanged hands. The weekly 11/24 20-strike put is the most popular contract, followed by the 24.50-strike put from the same series. 

Now on the short sale restricted (SSR) list, short interest is up 8% over the last two reporting periods. Still, the 25.73 million shares sold short represent 23.7% of Kohl's stock's available float. 

On the charts, KSS' 60-day moving average is keeping today's pullback in check, though its still pacing for its biggest single-day percentage loss since July 2022. While the equity is  up 7.8% this quarter, it's now down down 10.5% year to date.

 

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