DLTR is headed for its largest single-day percentage drop on record after disappointing earnings
Shares of Dollar Tree Inc (NASDAQ:DLTR) are down 21.3% at $64.25 at last glance, and headed for their largest single-day percentage drop on record, after the discount retailer's second-quarter earnings and revenue missed estimates. The company also slashed its full-year forecast, citing weaker demand.
On track for its ninth-straight daily loss, DLTR is gapping to its lowest levels since March 2020. Support at the $60 region lingers below, however. Since the start of 2024, the equity is down roughly 54%.
Over in the options pits, Dollar Tree stock has seen 34,000 calls and 54,000 puts exchanged so far, which is 10 times its average daily options volume. The weekly 9/6 65-strike put is the most popular, followed by the 60-strike put in the same series, with new positions opening at both.
It’s also worth noting that the equity's Schaeffer's Volatility Scorecard (SVS) ranks at 88 out of 100. This indicates DLTR outperformed volatility expectations in the last 12 months.