Put Options on M on 5/15/2017

Macy's, Inc. (M) operates stores, Websites, and mobile applications.

Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods.

The company also operates stores that offer a range of women's, men's, and children's apparel; shoes; fashion accessories; housewares; home textiles; intimate apparel; and jewelry.

As of January 28, 2017, it operated approximately 829 stores in the United States, the District of Columbia, Guam, and Puerto Rico under the Macy's, Bloomingdale's, Bloomingdale's The Outlet, Macy's Backstage, and Bluemercury brands, as well as Websites, including macys.com and bloomingdales.com. In addition, it operates as a beauty products and spa retailer.

Shares have formd a bearish "flag" following the company's latest disappointing quarterly results. Going forward, the company also guided lower. Lower share prices are expected for this stock.

We will be trading June 16th $24 June Put Options

52-Weeks Trading Range: $23.57 - $45.41

Last Trade: $23.70

Trade Buy 1 June $24.00 Put at $1.35 For a net debit of $1.35 Profit/Loss Analysis Breakeven at $22.65 Maximum profit is unbounded Maximum loss is ($135.00) at strike of $24.00 Closing Summary Sold 1 June $24.00 Put at $1.40

Position closed on 5/30/2017 at price of $1.40 with a 3.70% gain in 15 days.

Updates

5/30/2017 9:45:39 AM

We are closing put options on Macy's. An upgrade on the stock should be forthcoming!

Back to Portfolio