DECK is plummeting despite upbeat fourth-quarter results
Footwear stock Deckers Outdoor Corp (NYSE:DECK) is down 20.2% to trade at $100.67 at last glance, after the company declined to provide a full-year forecast due to economic uncertainty.
The Hoka maker is also brushing off better-than-expected fiscal fourth-quarter results and saw a wave of price-target cuts, as well as a downgrades from both Keybanc and Telsey Advisory. The former cut its rating to "sector weight" from "overweight," and the latter to "market perform" from "outperform." UBS, however, lifted its price target to $169.
Today's drop has DECK headed for its worst day since April 2012. The shares earlier slipped to a fresh 52-week low of $100.70, and now carry a 50.7% year-to-date deficit.
Over in the options pits, DECK has seen 46,000 calls and 29,000 puts across the tape, which is already 10 times the overall options volume it typically seen at this point. The weekly 5/30 102-strike call is the most active, with new positions being opened there.
Options look like a good way to go when weighing in on the equity, too. The stock's Schaeffer's Volatility Scorecard (SVS) of 97 out of 100 means it has tended to outperform options traders' volatility expectations.