Huge block trades in Macy’s November options yesterday, that seems to indicate the recent weakness in the stock is justified and may get worse moving forward. The stock in this retailer was a huge gainer early in 2018 moving from the mid 20’s all way up to $40 per share, before suddenly backtracking this summer down to yesterday’s close of $34.89. An investor collapsed a huge 3 way position in Macy’s options yesterday, that net net left them long 30,000 November expiration 33 puts. Then with half hour to go in the trading day, 30,000 November expiration 32 puts were purchased at $.97. May or may not be related to the first trade…impossible to know…but these sizable transactions certainly should give people reason to pause and consider a possible move down to Macy’s 200 day moving average at $32.13, which would appear to be near term support territory from its May inspired earnings breakout from the $30 level.