SJM is trading at its lowest level since March 2020
Food and beverage stock J.M. Smucker Company (NYSE:SJM) was last seen down 12.7% at $97.65, after the company posted a disappointing annual profit forecast. In addition, while fiscal fourth-quarter earnings beat estimates, revenue came in below expectations.
On the charts, today's bear gap has SJM breaking past its February bottom to its lowest level since March 2020 -- the height of the Covid-19 crash. The equity is also now pacing for its worst day on record, and carries a 12.1% year-over-year deficit.
In the options pits, SJM has seen 6.298 calls and 5,517 puts traded so far today. which is 42 times the overall options volume typically seen at this point. The June 95 call is most popular, followed by the 100 call in that series, with new positions opening at both.
Analysts lean bearish on the equity, with many reiterating neutral stances today after the peanut butter maker's guidance. Of the 16 firms in question, 11 carry a "hold" or worse rating.