Abercrombie & Fitch Co. (NYSE:ANF) shares jumped 11.1% to trade at $83.20 this morning, the retailer brushing off a profit decline with stronger-than-expected earnings. Abercrombie did admit that the Middle East conflict hindered consumer demand and issued a weak current-quarter outlook, likely keeping gains in check.
Today's pop triggered a breakout past the $80 level which kept a tight lid on early-May gains. The equity is down 33% for 2026, but still poised to mark its sixth win out of the last seven. There's potential for more upside though, per ANF's 14-Day Relative Strength Index (RSI), last spotted at 36 and near "oversold" territory.
Plus, the equity has outperformed options traders' volatility expectations over the last 12 months, per its Schaeffer's Volatility Scorecard (SVS) of 92 out of 100.
The retailer is gaining attention in the options pits, with 5,000 calls and 3,000 puts across the tape so far, which is seven times the amount typically seen at this point. Drawing the most attention is the weekly 5/29 75-strike put, with openings at the weekly 6/5 90-strike call.
