Footwear Stock Falls After Earnings Disappoint

A downbeat net sales forecast is also weighing on the shares

Deputy Editor
Mar 12, 2024 at 11:22 AM
facebook X logo linkedin

On Holding AG (NYSE:ONON) stock is plummeting today, after the footwear retailer's disappointing fourth-quarter results and net sales forecast. Down 13% at $29.24 at last glance, ONON is on the short sell restricted (SSR) list today. 

This bear gap has the equity dropping below its 20-day moving average, which provided close support this month, though long-term support at its 320-day moving average is still keeping a cap on losses. Since last March, ONON is up 42.5%. The stock is also holding on to a modest year-to-date gain. 

In response, options traders are chiming in at six times the volume typically seen at this point. So far, 30,000 calls and 29,000 puts have already been traded, with new positions opening at the most popular contract, the March 25.50 put. 

It's also worth noting that short interest represents 14.5% of the stock's available float. It would take shorts nearly seven days to cover their bets, at On Holding stock's average pace of trading -- plenty of pent-up buying power for those betting on a bounce. 


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