Macy's is a big store that sells clothes and other things. Some people are buying and selling parts of the company called options. These options let them guess if the price of Macy's will go up or down in the future. The article looks at what these people who buy and sell options think about Macy's. Right now, the price of Macy's is a little lower than before. Read from source...

- The title of the article suggests that it is an in-depth analysis of what big money investors are thinking about Macy's options. However, the content does not provide any specific evidence or data to support this claim. It only mentions the strike price spectrum and open interest, which are generic market indicators, but do not reveal anything about the strategies or expectations of large investors.
- The article provides a brief overview of Macy's business and operations, but it does not explain how these factors affect the value and performance of its options. It also ignores the impact of external factors, such as the COVID-19 pandemic, which has significantly disrupted the retail industry and affected consumer behavior.
- The article abruptly shifts from discussing the options trading patterns to examining the company's present market position and performance, without providing any clear connection or transition between these two topics. It also does not specify what metrics or criteria are used to evaluate Macy's current situation, such as revenue, profitability, growth potential, competitive advantage, etc.
- The article ends with a statement that the price of M is down by -2.15%, which seems irrelevant and outdated, since it does not provide any context or explanation for this change, nor does it relate it to the previous analysis of the options activity. It also does not mention if this decline is significant or temporary, or what factors might have caused it.

I have analyzed the article and extracted the relevant information for you to make an informed decision about investing in Macy's options. Based on my analysis, I suggest that you consider the following factors before investing:

1. The strike price spectrum of $16.0 to $21.0 is the most active and liquid range for Macy's options, which means that there is a higher chance of finding buyers and sellers in this area. This also implies that the option premiums are likely to be more reasonable and less volatile compared to other strike prices.