Options Traders See Coty's Stock Falling This Much By November Expiration
Portfolio Pulse from Lisa Levin
Coty Inc. (NYSE:COTY) shares traded higher in the premarket session on Tuesday after the company’s earnings release on Aug. 22. Options markets are implying a move of around +/-10% by the end of the week. Traders see Coty’s stock falling at least 20% by November expiration. Coty reported quarterly earnings of 1 cent per share, compared to a year-ago loss of 1 cent per share. The company reported Q4 revenue of $1.35 billion.
August 22, 2023 | 12:33 pm
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Traders predict a significant fall in Coty's stock by November. This comes after the company reported Q4 revenue of $1.35 billion.
The prediction of a significant fall in Coty's stock price is based on the options market and trader sentiment. Despite the company's positive Q4 earnings report, the market is implying a move of around +/-10% by the end of the week and traders are predicting a fall of at least 20% by November.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100