Option update: Macy’s (M) and J.C. Penney (JCP) volatility suggests risk into holidays
Posted by: in Stocks Money NewsFiled under: Penney (J.C.) (JCP), Options
Macy’s (NYSE: M) is expected to report Q3 EPS of 8 cents on 11/14 according to Thomson First Call. M operates 850 stores in 45 states. M overall option implied volatility of 54 is above its 26-week average of 40 according to Track Data, suggesting larger risk.
J.C. Penney (NYSE: JCP) is expected to report 3Q EPS of $1.02 cents on November 15 according to Thomson First Call. JCP closed at $46.31. Alex Brown lowered its price target on JCP to $83 from $55 on November 12. JCP overall option implied volatility of 56 is above its 26-week average of 38 according to Track Data, suggesting larger price risks.
Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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