Macy's stock is it over valued? why or why not.

I'm considering opening a position on some year out puts.

seems like their financials are in trouble. I question their good will and other balance sheet intangibles based on loss of loyalty after taking over chains during their expansion.

they've been on an upswing this year I just think it's gone way too far up.

seems they're running an antiquated business model poorly based on their declining revenue and amount of store closings.