VFC Stock Plummets After Surprise CEO Retirement

The company also lowered its full-year sales and profit forecasts

Digital Content Manager
Dec 5, 2022 at 1:46 PM
facebook twitter linkedin

VF Corp (NYSE:VFC) is taking a hit today, down 10.8% to trade at $29.62 at last check. Today's negative price action follows the sudden retirement of CEO Steve Rendle, and appointment of Director Benno Dorer as interim CEO. The apparel name, which is the parent of The North Face, also lowered its full-year sales and profit forecasts due to weak consumer demand in North America.

Overall options volume is running at triple the intraday average today. So far, 5,196 calls and 4,496 puts have been traded, with the June 30 call standing out as the most popular contract, followed by the February 35 call.

Short-term options traders have been much more bearish than usual. This is per VFC's Schaeffer's put/call open interest ratio (SOIR) of 1.63, which ranks in the 94th percentile of annual readings.

Analysts are also pessimistic, with 13 of the 19 in coverage calling the equity a "hold" or worse. What's more, short sellers are piling on, with short interest up 13.7% over the last two reporting periods. The 20.73 million shares sold short make up 5.4% of VFC stock's available float.

Digging deeper, the security has struggled with a ceiling at the $35 level since early November, while the 80-day moving average has kept a tight lid on the shares for the better part of 2022. Longer term, VFC stock carries a hefty 59.9% year-over-year deficit.

VFC 80 Day 


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners