DLTR is on track for its worst day since April 3
Dollar Tree Inc (NASDAQ:DLTR) stock is down 9.4% to trade at $87.62 at last glance, brushing off a first-quarter earnings and revenue beat after the discount retailer also issued a lackluster forecast for the current quarter, citing recent tariff uncertainty.
DLTR is on track for its worst day since April 3 as it pulls back from its highest level since August. Though the shares still sport a 17.1% year-to-date lead, they fell more than 27% over the past 12 months, and are gapping below support at their 20-day moving average.
The brokerage bunch is already bearish on DLTR, with 17 of the 24 analysts in question calling it a tepid "hold" or worse. Short sellers are firmly in control, too, despite an 18.8% drop in short interest in the most recent reporting period. In fact, the 14.71 million shares sold short still make up 7% of the stock's available float.
Options traders are chiming in, with 30,000 calls and 27,000 puts exchanged so far today, which is 6 times the volume typically seen at this point. The most popular contract by far is the weekly 6/6 86-strike put, where new positions are currently being opened.
Over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), DLTR sports a 50-day call/put volume ratio of 2.94 that sits at the top percentile of annual readings. This means long-term options traders have been more bullish than usual.