Close the Macy's Puts for a Loss
March 02, 2023 - 7:39 amWe bought the April $19 Puts on Macy's on Feb 21 ahead of earnings, and the company reported a beat which we didn't anticipate based on earnings results from other large retailers. After the beat, shares have been rallying this morning, and we are selling the Puts at $0.46 cents for a loss of 55.3%.