Call Buying Activity in Gap, Inc. (GPS) Targets Upside in Shares -Susquehanna

March 2, 2021 2:14 PM EST

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Susquehanna options strategist Alison Edwards notes call buying activity in Gap, Inc. (NYSE: GPS), as ahead of earnings later this week, opening investors bought 15k Apr 25 Calls for up to $3.25. These investors open upside exposure beyond $25 (Stock Ref. $26.60), setting up a breakeven point ~7% higher. The company reports earnings after the close on 3/4. Given the small lot flow in longer dated options, this may be a recommended option.

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