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Macys was indeed oversold

|Includes:Macy's Inc. (M)

Those who bought thismorning as shares hovered between 11.20 to 11.35 should be smiling now.  Shares have definitely been oversold in the past 7 trading sessions.  For those who are looking to establish hedged positions, consider writing either june strike 12 (slightly out of the money) for 1.05/contract or strike 11 for 1.65/contract.  Both offer great intrinsic time value against the current underlying shares.

Once again, M shares are the cheapest relative to any retail stock in the sector.  Stock should be trading north of 20 according to EDIBTA

Stocks: M