Apparel retailer Abercrombie & Fitch Co (NYSE:ANF) reported strong second-quarter results before the bell this morning, with earnings of $2.32 per share on revenue of $1.21 billion, beating estimates of $2.30 per share on $1.20 billion, though comparable sales fell 11%. The company also lifted its full-year outlook, brushing off $90 million in tariff costs.
At last glance, Abercrombie & Fitch stock was up 1.6% to trade at $98.20. Shares briefly entered negative territory earlier, though the 80-day moving average provided support for the pullback. Year to date, ANF is down 34.3%, despite steadily climbing since its April 8, 52-week low of $65.40.
Over in the options pits, 14,000 calls and 15,000 puts have been exchanged so far today, which is 2.1 times the average daily options volume already. The weekly 8/29 82-strike put is the most popular contract, followed by the September 95 call, with positions opening at both.
It's also worth noting that ANF still has plenty of short squeeze potential. Short interest accounts for 14.6% of the security's available float, and would take nearly three days for shorts to entirely cover at its average pace of trading.
