Kraft Heinz Stock Slips After Mixed Results, Downbeat Forecast

Put traders are eyeing KHC today

Deputy Editor
Feb 14, 2024 at 11:01 AM
facebook X logo linkedin

Kraft Heinz Co (NASDAQ:KHC) stock is headed for its worst day since January 2023, down 5.3% at $34.22 at last glance. The food and beverage giant posted mixed fourth-quarter results, missing revenue expectations while earnings came in slightly better than anticipated, and a disappointing annual sales forecast. Inflation appears to be pinching demand, as customers look for deals elsewhere. 

Today's negative price action has KHC breaking below its 80-day moving average for the first time since November, as well as the $36 level, which has acted as support over the last few months. Since last February, the equity is down roughly 14%. 

Unsurprisingly, options traders are targeting the stock at higher volume than usual today. So far,  9,832 calls and 12,000 puts have been exchanged, which is six times the intraday average amount. Expiring at the end of this week, the February 33.50 put is the most active contract, with options being sold to open here. 

Today's penchant for puts represents a large sentiment shift from the past 10 weeks. According to data at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security's 50-day call/put volume ratio of 5.63 stands higher than 98% of readings from the past year, showing calls being picked up at a much faster-than-usual rate. 


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI