Bearish flow noted in Capri Holdings with 13,130 puts trading, or 2x expected. Most active are May-24 37.5 puts and Apr-24 45 puts, with total volume in those strikes near 10,200 contracts. The Put/Call Ratio is 10.19, while ATM IV is up over 1 point on the day. Earnings are expected on May 29th.
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Read More on CPRI:
- Tapestry price target raised to $54 from $49 at Telsey Advisory
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- Capri Holdings put volume heavy and directionally bearish
- Capri Holdings reports Q3 adjusted EPS $1.20, consensus $1.71
- Capri Holdings options imply 3.0% move in share price post-earnings
