How Expedia Stock Could Close Recent Bear Gap

The security still sports a 24.1% year-to-date lead

Digital Content Manager
Aug 8, 2023 at 2:48 PM
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Expedia Group Inc (NASDAQ:EXPE) stock is bouncing off a pullback to its lowest level since early June, last seen up 1.2% at $108.82. The security is today pacing for its third-straight win, and still sports a 24.1% year-to-date lead. Plus, a historically bullish signal now flashing may be enough encourage investors to buy the dip, as it indicates EXPE could soon close its recent bear gap.

Digging deeper, Expedia stock is within one standard deviation of its 80-day moving average, per Schaeffer's Senior Quantitative Analyst Rocky White. Over the past three years, shares have seen five similar signals, and were positive one month later 80% of the time, averaging an 8.7% gain. A move of comparable magnitude would put EXPE back above $118.  

EXPE 80 Day

Short-term options traders lean overwhelmingly bearish, suggesting a sentiment shift could also boost the shares. This is according to the security's Schaeffer's put/call open interest ratio (SOIR) of 1.09, which stands higher than 86% of readings from the last 12 months.

Options traders are in luck, as EXPE sports attractively priced premiums. The equity's Schaeffer's Volatility Index (SVI) of 34% ranks in the low 7th percentile of its 12-month range. This means options traders are pricing in low volatility expectations right now.

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