Lowe's Companies Inc (NYSE:LOW) and Kellanova (NYSE:K) are both seeing unusual options activity today: the former's after an earnings call and the latter's following a U.S. Securities and Exchange Commission (SEC) filing.
Lowe's Companies stock is 0.7% lower at $241.62 at last glance, a modest midday deficit considering that, while the blue-chip retailer posted better-than-expected earnings for the fiscal second quarter, its quarterly revenue missed the mark and the firm slashed is full-year outlook.
In response, LOW has seen four times the options volume typically seen at this point, with 14,000 calls and 17,000 puts across the tape so far. Most popular is the weekly 8/23 250-strike call, where new positions are opening.
Shares of Kellanova, formerly known as the Kellogg Company, sport a 0.2% midday lead, last seen trading at $80.39. The security is seeing triple its average intraday options volume today after M&M's parent Mars (MARX) last night reported a 20.6% stake in the company as of Aug. 13.
Bulls are making their presence known, with 20,000 calls traded so far against just 5,584 puts. The October 82.50 call is the most popular by far, with new positions being bought to open there.
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