Kraft Heinz Co. shares fell 3.46% to $24.45 on Tuesday, extending losses as options traders placed nearly 19 call contracts for every put, indicating strong bullish sentiment even amid the selloff. The stock’s decline reduced its market capitalization to $30.03 billion, while its 13.7% dividend yield remained among the highest in the S&P 500.
Options activity surged to 92,516 contracts by 11:20 a.m. ET, with call volume totaling 87,874 compared to just 4,642 puts. Four high-volume call strikes—$25.50, $26, and $26.50—accounted for 79,920 contracts, or over 86% of all calls traded. The largest blocks included 19,980 contracts each on Aug. 28 $26 calls, Aug. 28 $26.50 calls, Sept. 4 $25.50 calls, and Sept. 4 $26 calls.
Technical indicators reflected oversold conditions, with the hourly Relative Strength Index at 26.8 and the hourly MACD at -0.16, signaling bearish momentum. Resistance was noted near $25.03, while support lay at $24.14. The stock’s 90-day realized volatility stood at 33.6%, while the three-month implied volatility rose 0.42 percentage points to 28.13%. The 90/110 skew increased by 0.94 points to 1.56.
Analysts maintained a mean target price of $25.09, below the stock’s current level, though fair value estimates averaged $27.77. Kraft Heinz’s 12-month price return was -2.5%, contrasting with its last earnings report on Aug. 5, which exceeded both EPS and revenue expectations. The next earnings release is scheduled for Nov. 4, with a forecasted EPS of $0.43.
The company also announced its transition from the Nasdaq to the New York Stock Exchange, a move that follows Siemens Energy’s recent shift to the NYSE.
