bed bath and beyond stock hits 22 year low

In fact, today's put volume has already exceeded the previous April 12 high of 43,000 contracts. Within the first hour of trading, the equity has seen about 54,000 puts change hands - 61 times the average intraday pace, and more than three times the number of calls traded. Today, Bed Bath & Beyond puts are the options of choice. An unwinding of optimism in the options pits could exacerbate BBBY's losses. This indicates that nearly three times the amount of calls were purchased over puts during the past 10 weeks. This is per data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which shows the stock's 50-day call/put volume ratio of 2.76 ranking in the 78th annual percentile. From a broader perspective, the home furnishings stock is now down 33% year-to-date.Īhead of earnings, options traders were optimistic toward BBBY. On the charts, BBBY has been a long-term underperformer, continuously failing to break out above the 120- and 160-day moving averages - ceilings of resistance for the shares since early this year. Bed Bath & Beyond stock's average 12-month price target stands at $15.69 - a premium of 7.7% to current trading levels. Morgan Securities slashed its price target on BBBY to $14 from $16, while Wedbush dropped its target to $15 from $18.

Analysts have been quick to react, with no fewer than eight brokerage firms slamming the retailer with price-target cuts - and options traders are also betting bearishly.Īmong the slew of bear notes, J.P. (NASDAQ:BBBY) plunged to an 18-year low of $14.40 out of the gate, last seen down 22.6% at $14.55, after the company reported a surprise fall in second-quarter same-store sales and cut its full-year forecast.

Bed bath and beyond stock hits 22 year low