Macy's, Inc. became a focal point for significant options trading activity on Tuesday. Traders purchased 31,443 call options, marking a substantial increase in volume.
This activity represented a 53% surge over the stock’s typical daily volume of call options. The unusual trading signaled strong bullish sentiment from investors betting on a rise in the company’s share price.
The surge coincided with a positive day for Macy's stock, which traded up by $0.94 to close at $23.79. Heightened investor attention aligns with the retailer's implementation of its "Bold New Chapter" transformation strategy.
This corporate strategy focuses on optimizing the store footprint and enhancing the company's digital presence.