Mar. 27 at 2:26 AM
$SHOO unusual call activity — 10,000 contracts with stock at
$31.
+10,640 SHOO 100 15 MAY 2026 40.00 CALL @ 0.96, for
$1,021,440 total deltas.
$1,021,440 ×
$31 =
$31,664,640 in dollar exposure. The 40 strike is 29% above current price — massive lottery ticket call on Steven Madden into May. Options volume today hit 153% of average daily volume. Something is being positioned for here.
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