GoPro, Inc. (GPRO) Option Traders Eye Last-Minute Gains

GoPro Inc (NASDAQ:GPRO) is seeing last-minute call buying as the shares continue to advance

Jun 12, 2015 at 2:15 PM

GPRO

GoPro Inc (NASDAQ:GPRO) has been on a tear lately, and options traders haven't been shy about placing bullish bets. In today's action, calls outstrip puts 15,000 contracts to 10,000. Last-minute speculators are buying to open the weekly 6/12 57.50-strike call, counting on the shares to end the day -- when the series expires -- atop $57.50.

Longer term, options activity on GPRO has been much the same. During the last 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have bought to open 2.24 calls for every put. Echoing this, the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.81 indicates call open interest outstrips put open interest among options with a shelf-life of three months or less.

And why shouldn't options traders be bullish toward GoPro Inc (NASDAQ:GPRO)? The shares have rallied 55.6% since their most recent low of $37.13 on March 10, and bounced off their 20-day moving average today -- up 3.2% at $57.77.

Follow @Schaeffers

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!