S&P 500   4,191.98
DOW   33,426.63
QQQ   336.51
Mount Etna volcano erupts, raining ash on Catania, forcing flight suspension at local airport
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China tells tech manufacturers to stop using Micron chips, stepping up feud with United States
Stock market today: Asian shares mostly rise despite worries about US debt talks
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SpaceX launches two Saudi astronauts on private flight to space station
Civil rights groups warn tourists about Florida in wake of 'hostile' laws
Buy THIS stock before Taiwan is attacked (Ad)
South Korean, German leaders agree to cooperate on supply chains, North Korea
Animal rights activists protest octopus farm plans in Spain
S&P 500   4,191.98
DOW   33,426.63
QQQ   336.51
Mount Etna volcano erupts, raining ash on Catania, forcing flight suspension at local airport
Buy THIS stock before Taiwan is attacked (Ad)
China tells tech manufacturers to stop using Micron chips, stepping up feud with United States
Stock market today: Asian shares mostly rise despite worries about US debt talks
Buy THIS stock before Taiwan is attacked (Ad)
SpaceX launches two Saudi astronauts on private flight to space station
Civil rights groups warn tourists about Florida in wake of 'hostile' laws
Buy THIS stock before Taiwan is attacked (Ad)
South Korean, German leaders agree to cooperate on supply chains, North Korea
Animal rights activists protest octopus farm plans in Spain
S&P 500   4,191.98
DOW   33,426.63
QQQ   336.51
Mount Etna volcano erupts, raining ash on Catania, forcing flight suspension at local airport
Buy THIS stock before Taiwan is attacked (Ad)
China tells tech manufacturers to stop using Micron chips, stepping up feud with United States
Stock market today: Asian shares mostly rise despite worries about US debt talks
Buy THIS stock before Taiwan is attacked (Ad)
SpaceX launches two Saudi astronauts on private flight to space station
Civil rights groups warn tourists about Florida in wake of 'hostile' laws
Buy THIS stock before Taiwan is attacked (Ad)
South Korean, German leaders agree to cooperate on supply chains, North Korea
Animal rights activists protest octopus farm plans in Spain
S&P 500   4,191.98
DOW   33,426.63
QQQ   336.51
Mount Etna volcano erupts, raining ash on Catania, forcing flight suspension at local airport
Buy THIS stock before Taiwan is attacked (Ad)
China tells tech manufacturers to stop using Micron chips, stepping up feud with United States
Stock market today: Asian shares mostly rise despite worries about US debt talks
Buy THIS stock before Taiwan is attacked (Ad)
SpaceX launches two Saudi astronauts on private flight to space station
Civil rights groups warn tourists about Florida in wake of 'hostile' laws
Buy THIS stock before Taiwan is attacked (Ad)
South Korean, German leaders agree to cooperate on supply chains, North Korea
Animal rights activists protest octopus farm plans in Spain

Put Traders Run Up Foot Locker Stock Before Earnings

The shares of Foot Locker, Inc. (NYSE:FL) are up 1.1% at $42.01 at last glance, as retailer gets ready to report second-quarter earnings before the open tomorrow, May 19. Ahead of the event, put traders are placing their bets.

At last check, over 3,500 bearish bets across the tape so far today, volume that's five times the average intraday amount. Most popular is the January 2024 30-strike put, followed by the May 37 put.

A look at the FL's history of post-earnings reactions over the past two years shows a mostly positive responses, though there was a 5.7% slide after the March report. The stock averages a post-earnings swing of 11.2% the last eight quarters, regardless of direction. This time around, the options market is pricing in a similar move of 12.8%. 

Analysts aren't optimistic toward Foot Locker stock either. Of the 16 in coverage, just five sport a "strong buy" versus 11 tepid "hold" ratings. Meanwhile, the 9.59 million shares sold short account for 10.5% of FL's total available float. A post-earnings pop could force upgrades to FL while catching those shorts off guard. 

Foot Locker stock has had a fairly volatile year, hitting an annual high of $47.22 on Feb. 3, before pulling back to its 160-day moving average on multiple occasions, including last week. Still, FL stands just over 11% higher in 2023, with a 36% year-over-year lead to boot.

FL Chart

 

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