$KSS Kohls Breaking Down - Bearish Options Activity
$KSS Kohls Breaking Down - Bearish Options Activity
After finding some support just below $19 in late June, we've seen a recent choppy mild uptrend. I'll be watching for a break of the lower channel support line in the next week. With a break we should see price action sub-$19 in the near term, leading up to ER early Aug.
Earnings can obviously go either way - but given recent trends in Retail foot traffic, specifically Retail Dept Stores, with strong COVID second waves in highly populated states...I'm bearish.
Bearish Options Activity Today:
1k $20 strike Jan 2022 puts traded today for $720K
After finding some support just below $19 in late June, we've seen a recent choppy mild uptrend. I'll be watching for a break of the lower channel support line in the next week. With a break we should see price action sub-$19 in the near term, leading up to ER early Aug.
Earnings can obviously go either way - but given recent trends in Retail foot traffic, specifically Retail Dept Stores, with strong COVID second waves in highly populated states...I'm bearish.
Bearish Options Activity Today:
1k $20 strike Jan 2022 puts traded today for $720K