Raymond James Upgrades DISH Stock as Short Sellers Move In

Raymond James sees DISH's spectrum holdings paying off in a big way

Aug 26, 2019 at 1:49 PM
facebook X logo linkedin


DISH Network Corp (NASDAQ:DISH) is trading 3.5% higher today at $32.14, after receiving bullish attention from Raymond James. The brokerage firm said it's a good time to buy DISH shares, upgrading to "strong buy," with the company standing to benefit during the 5G rollout as U.S. carriers look for spectrum bands. (In early 2018, some valued DISH Network's spectrum assets at over $30 billion.) This upbeat view goes against some recent action across Wall Street.

Specifically, short interest has been rising on the TV provider, up 21.5% in the past two reporting periods. This puts roughly 16.9 million shares in the hands of short sellers, equating to 5.5 days' worth of buying power, based on average trading volumes. This also marks a two-year high for short interest on DISH.

dish stock chart aug 26

In the options pits today, the most popular contract by a mile is the September 22.50 put, where 3,500 contracts have traded. This strike was home to 6,655 puts coming into today, so new positions may not be opening here, especially since implied volatilities are moving lower. From a broader stance, put open interest for contracts expiring within three months shows an advantage for puts, according to the Schaeffer's put/call open interest ratio (SOIR) of 1.29.

Today's price action has DISH Networking testing its 20-day moving average for the first time since last month's sell-off, sparked by news that the company was buying Sprint's (S) prepare wireless business. Technical traders should also be aware of the 320-day moving average for DISH, one of our favorite long-term trendlines, as it has flattened out in recent weeks and is looming right overhead in the $33 area, capping the stock's upside move on Aug. 8.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI