By Fernanda Horner
Source: Schaeffer’s Investment Research
Kroger Co. reported fourth-quarter earnings of 99 cents per share this morning — better than the 90 cents per share analysts anticipated — though revenue missed the mark. The grocery chain’s annual profit forecast also bested Wall Street’s estimates, thanks to higher prices, easing cost pressures, and steady demand. At last check, KR was up 5.8% at $45.91.
Options traders are already responding to the upbeat results, with 7,763 calls and 5,377 puts across the tape so far, which is nine times the intraday average. Most popular is the 3/3 45-strike call, followed by the 46-strike call in that weekly series, with new positions opening at the latter.