Comparing VF Corp's Two Unusually Active Options: Which Is Preferable?

Core Viewpoint - VF Corp. is facing significant challenges with its Vans brand, which has seen a notable decline in sales, prompting a turnaround plan that is not progressing well [1][3]. Company Performance - Since the appointment of Bracken Darrell as CEO on June 20, 2023, VF Corp.'s stock has decreased by 24%, and it has experienced an 86% decline from its all-time high in 2020 [4]. - The company's share price dropped by 15.8% on May 21, coinciding with the release of its Q4 2025 results, which may have triggered potential class action lawsuits from investors [3][4]. Options Activity - VF Corp. exhibited unusual options activity, with two options having volume-to-open-interest ratios of 1.24 or higher, indicating interest from both bullish and bearish investors regarding the company's current situation [4]. Leadership Insights - The hiring of Bracken Darrell was initially viewed positively due to his successful turnaround experience at Logitech, where he delivered substantial shareholder returns [6]. - Comparisons have been made between Darrell's hiring and Hubert Joly's recruitment at Best Buy, suggesting that Darrell has the potential to implement bold strategies to revitalize VF Corp. [7].