Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Bullish Sentiment For Gap Ahead Of Earnings

Published 10/03/2022, 12:52
Updated 10/03/2022, 13:40
© Reuters.  Bullish Sentiment For Gap Ahead Of Earnings
GPSI34
-

Gap Inc (NYSE: NYSE:GPS) Thursday reports earnings after the bell. Shares of Gap have lost close to 17% over the past month.

On CNBC's "Options Action," Tony Zhang said that the stock trading more than 5.4 times its average daily volume. The market is implying a move of 13.7% going into the earnings event, he added.

A trader bought 2,011 of the March 15 puts and sold 2,011 of the June 14 puts to open at a net credit of 30 cents per contract, Zhang mentioned. “This is really an extension of what is a neutral to bullish view here on Gap, he said. The trade obligates the trader to buy $2.75 million worth of Gap shares if the stock ends below $14 by the June expiration, Zhang added.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.