Michael Kors Holdings Limited (KORS) Low Lures Option Bears

A new low is attracting Michael Kors Holdings Ltd (KORS) put buyers

May 13, 2015 at 2:00 PM
facebook X logo linkedin


Michael Kors Holdings Ltd (NYSE:KORS) puts have been popular in recent weeks, per data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Specifically, the retailer's 10-day put/call volume ratio registers at 1.56, or higher than 90% of comparable readings from the past year.

There's a reason for this bearish betting, as well -- KORS has been a long-term technical disappointment, shedding 18.7% year-to-date to trade at $61.05. Earlier today, in fact, the equity hit an annual low of $60.77, and continues to face pressure from its 10-week moving average.

In options land, traders are once again favoring puts over calls. By the numbers, 14,000 puts are on the tape -- twice the expected intraday amount -- easily outstripping the 7,350 calls traded.

Digging deeper, one option trader appears to be rolling out their May 65 puts to the August series. Meanwhile, others are buying to open the Michael Kors Holdings Ltd (NYSE:KORS) weekly 5/29 60-strike puts, expecting the stock to breach $60 -- and hit a new annual low -- by the close on Friday, May 29. Two days prior to that weekly expiration -- the morning of Wednesday, May 27 -- the company is scheduled to report earnings.
 

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 C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI