HBI / HanesBrands - Backed Up Truck / Pre Earnings / $30 Target

Feb 9, 2021

0. Notes to follow;

Feb 9, 2021

Note

1. We started to accumulate a small position sub $10, and added slowly into earnings;

2. We think this is a "Retro Play" as well. And could go $30+

3. Massive Options Activity on the March 19 21st Call

Post-earnings call buyer slips into Hanesbrands March 21s 11:20 HBI Hanesbrands $19.47 / +3.5 (+21.92%) Post-earnings call buyer slips into Hanesbrands March 21s. Shares of the apparel maker up more than $3, or 19%, following earnings - blowing through the 8% move implied by Monday's closing straddle, with call volume 40x normal at 28k contracts, vs 4200 puts, and a focus on the March 21 calls, bought from 42 to 65c in a number of sweeps, opening a new position struck 7.7% above spot.

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