Shorting MACY's into the earnings :)
I am Shorting MACY's into the earnings via PUTS for mid March. Overall brick and mortar retail has NOT comeback yet and NYC is a ghost town. Macy's is the next JC Penny's, they are not there yet but are due for a pull back. Momentum and Volume have been no where in sight over the last week for this stock and its sitting at a 1 year high.. I am no genius but I would assume that its due for a fall. to $12's maybe even $10's if the market over reacts. I am betting against the trend here so I am taking a less risky approach by shorting via PUT contracts for mid march which will give the earnings a chance to sell off. I am operating under the assumption that because of my above points, that the earnings will be a missed target. I picked up some $16.50 PUT contracts for Mid March.
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