Options Traders Eye Surging Apparel Stock

Engaged Capital built its stake in the company

Deputy Editor
Oct 17, 2023 at 2:50 PM
facebook X logo linkedin


VF Corp (NYSE:VFC) is surging today, up 13.5% to trade at $18.38 at last glance, after Engaged Capital built its stake in the company, saying the stock could triple if issues are addressed. This bull gap has the security further removing itself from its Oct. 12, 14-year low of $15.11. 

VFC is still below several moving averages, however, including its 140-day trendline, which it hasn't closed above since January 2022. Since the start of the year, the equity is down 33.5%. 

So far today, 35,000 calls and 11,000 puts have been exchanged, which is already four times the average daily options volume. The October 18 call is the most popular by far, followed by the 17.50 call in the same series, with new positions opening at both. 

It's worth noting that short interest has been on the rise, up 20.8% in just the last two weeks. Now, the 28.3 million shares sold short account for 7.3% of the stock's available float, or over four days' worth of pent-up buying power. 

VFC 1017

 

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*