Annaly Capital Management stock earlier fell to a three-year low
Annaly Capital Management, Inc. (NYSE:NLY) is trying to brush off a bear note from Piper Sandler today, after the firm lowered its price target to $18 from $21. The equity was last seen up 2.6% at $15.11 at last glance, and on track to snap a six-day losing streak, after earlier slipping to a three-year low of $14.52. Still facing pressure from its 20-day moving average, NLY is down 28.4% in 2023.
Amid all this negative price action, the security snuck its way into Schaeffer's Senior Quantitative Analyst Rocky White's list of names that saw the highest weekly options volume in the last two weeks. Per White's data, 120,828 calls and 61,942 puts were exchanged within that period, with the November 17.50-strike call getting the most attention.
Calls have been getting picked up at a quicker-than-usual clip over the last couple of months. The stock's 50-day call/put volume ratio of 1.62 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands higher than 68% of annual readings, indicating these traders have been buying the dip.