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Options Radar: Angie's List, Citrix Systems, and Under Armour

Reviewing notable options activity on Angie's List Inc, Citrix Systems, Inc., and Under Armour Inc

by 7/24/2014 12:26 PM
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Three stocks seeing notable options activity today are business review site Angie's List Inc (NASDAQ:ANGI), cloud computing issue Citrix Systems, Inc. (NASDAQ:CTXS), and athletic apparel designer Under Armour Inc (NYSE:UA). Here's a look at how today's options traders have been placing their bets on these three names.

  • Angie's List Inc (NASDAQ:ANGI) has plummeted 21.5% to trade at $7.98 -- and earlier touched a record low of $7.77 -- after last night reporting a wider-than-expected second-quarter loss and issuing disappointing current-quarter revenue guidance. As a result, the stock was slammed by analysts on the Street, and landed on the short-sale restricted (SSR) list out of the gate. Meanwhile, bearish bettors are flocking to ANGI's options pits -- where put volume is running at 15 times the intraday average -- and buying to open the August 7.50 put.

  • On the flip side, Citrix Systems, Inc. (NASDAQ:CTXS) has rallied 4.2% to hover near $66.78, following a successful trip to the earnings confessional last night, and subsequent price-target hikes at no fewer than eight brokerage firms. On the options front, volume has accelerated to seven times the normal intraday clip, while CTXS' 30-day at-the-money implied volatility has fallen 36.7% to an annual low of 19.8% -- not shocking, given the post-earnings context. Traders are targeting the equity's September 67.50 call. The vast majority of the nearly 3,400 contracts on the tape here have crossed at the bid price, and volume is outstripping open interest, pointing to the initiation of new positions.

  • Lastly, Under Armour Inc (NYSE:UA) earlier rallied to a record high of $70.25, and is still sitting with a 15.5% advantage at $70.00, after the company earlier reported a second-quarter earnings beat and raised its full-year guidance. What's more, the stock was met with a trio of price-target hikes at Credit Suisse, Jefferies, and J.P. Morgan Securities. Elsewhere, options trading is sizzling, with overall volume registering at six times the intraday norm. UA's most active option is the weekly 7/25 70-strike call, where a healthy amount of contracts have been exchanged at the ask price, signaling buyer-driven activity.


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