2 Retail stocks hit record highs after earnings

Both DKS and ANF are rising to record levels

Retailers Dick’s Sporting Goods Inc (NYSE:DKS) AND Abercrombie & Fitch Co (NYSE:ANF) are focusing on Wall Street today after strong first-quarter earnings reports. Both companies reported better-than-expected results, with Dick’s Sporting Goods raising its earnings forecast amid rising demand and Abercrombie & Fitch raising its sales growth forecast after its “best quarter ever.”

At last glance, DKS was up 15.5% to $225.20, having previously hit an all-time high of $228.36. Today’s price action continues the stock’s impressive track record positive moves after making profitsand following the last report, it increases the March bull gap. Since the beginning of the year, equity has increased by 53%.

So far, Dick’s Sporting Goods stock has seen 12,000 calls and 8,247 puts, which is already three times its average daily option volume. The most popular is the weekly 240 strike call on May 31, during which new positions are opened.

Abercrombie & Fitch shares are also trading at record highs, last seen rising 15.8% at $176.53, having previously traded at $180.67. The company’s stock has risen steadily over the past year, up 463.7% year-over-year, and is on track to record its 10th monthly win in the last 12 months.

To date, ANF has recorded 14,000 calls and 18,000 trades, which is already 3.7 times the average daily option volume. The 170-stroke weekly put contract on May 31 is the most active contract with new positions being opened.