Taylor Swift Engagement Makes Jewelry Stock Shimmer

Pop star Taylor Swift likes shiny things, and she definitely isn't marrying Kansas City Chiefs tight end Travis Kelce with paper rings. The shares of precious jewelry retailer Signet Jewelers Ltd (NYSE:SIG) are sparkling in response the couple's engagement announcement, which showcased an old mine brilliant cut diamond ring estimated to be worth $675,000 to $1 million.

With Swift and Kelce's "marry, kiss, kill" game now settled, Jefferies lifted SIG's price target to $125 from $102. More analysts could catch on to the fact that the stock is still bejeweled, however, given five of the nine in coverage call it a "hold" or worse.

Shorts don't seem afraid of little old Signet Jewelers stock, but perhaps they should be. Short interest rose 7.1% in the last reporting period and now accounts for 15.6% of SIG's available float, which is equivalent to about one week's worth of pent-up buying power.

Options traders can't seem to fight the alchemy, with 1,899 calls and 3,848 puts traded so far today, which is seven times the volume typically seen at this point. Most active by far is the September 95 put.

The options pits signaled a short-term bullish bias prior to the engagement news, per the equity's Schaeffer's put/call open interest ratio (SOIR) that sits in the low 10th percentile of annual readings.

SIG was last seen up 4.7% to trade at $91.99, and earlier hit a fresh 2025 high of $92.35. The stock sports a 15.9% lead as August slips away into a moment in time, and an even better 74.3% year-to-date lead, as it bounces off the ascending 60-day moving average after less than a fortnight below this trendline.