Option Activity Watch

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Check out some noteworthy options activity that's been going on in recent weeks
Published on May 29, 2020 at 2:40 PM
  • Intraday Option Activity
Retail name Nordstrom (JWN) is struggling after sharing a dismal quarterly loss
Published on May 27, 2020 at 12:37 PM
Updated on May 27, 2020 at 4:43 PM
  • Intraday Option Activity
Software development name Atlassian Corporation PLC (NASDAQ:TEAM) is taking a breather on the back of today's tech sector selloff.
Published on May 22, 2020 at 1:59 PM
  • Intraday Option Activity
  • Editor's Pick
In light of Friday's breakout, options traders are blasting the energy stock, with a greater-than-normal tilt toward puts. 
Published on May 15, 2020 at 1:04 PM
  • Intraday Option Activity
TWTR is trading up 0.8% at $28.78, at last check, meaning some of these traders are expecting more upside for the underlying stock ahead of the close tonight. 
Published on May 14, 2020 at 2:46 PM
  • Intraday Option Activity
  • Editor's Pick
In light of Friday's breakout, options traders are blasting the energy stock, with a greater-than-normal tilt toward puts. 
Published on May 7, 2020 at 11:16 AM
Updated on May 8, 2020 at 8:58 AM
  • Intraday Option Activity
  • Buzz Stocks
The firm added that its monthly bill paying subscriber count surged during its first-quarter on higher demand for cheaper phone services amid the coronavirus lockdown. 
Published on May 6, 2020 at 2:36 PM
  • Intraday Option Activity
  • Editor's Pick
In light of Friday's breakout, options traders are blasting the energy stock, with a greater-than-normal tilt toward puts. 
Published on May 6, 2020 at 9:58 AM
Updated on May 6, 2020 at 10:01 AM
  • Intraday Option Activity
  • Buzz Stocks

The shares of Beyond Meat Inc (NASDAQ:BYND) are up 12.5% to trade at $112.42 this morning, after the plant-based meat substitute manufacturer reported first-quarter earnings of 3 cents per share on revenue of $97.07 billion, both of which beat out Wall Street's estimates. While the company suspended its 2020 guidance, expansion in retail outlets and supermarkets helped offset struggling restaurant sales amid the coronavirus outbreak. 

This is the company's first positive post-earnings reaction since June of last year. Today's pop moves Beyond Meat stock up 47% year-to-date. And should today's gains hold, the shares will have conquered their 200-day moving average for the first time ever on a closing basis.

Six analysts have already chimed in with price-target hikes, the highest coming from from Piper Sandler, which lifted its estimate to $95 from $72. However, the brokerage firm also warned to expect near-term headwinds in its restaurant channels amid the COVID-19 fallout. The bull notes today runs counter to the overall analyst sentiment. Of the 14 in coverage, 11 rate it a tepid “hold” or worse. Echoing this is the consensus 12-month price target of $84.95, which sits at a 15.2% discount to current levels.

Short sellers keep piling on, with short interest up 7.5% in the last reporting period. Now, the 9.16 million shares sold short makes up a whopping 29.9% of the stock's available float, which could be fuel more gains for the stock should some of this pessimism begin to unwind. 

In the options pits, BYND sports 10-day call/put volume ratio of 2.22 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), a ratio that sits in the elevated 87th percentile of all other readings from the past 12 months. This suggests the appetite for short calls have been relatively health in the last 10 weeks. 

Today, calls continue their reign. Already, 60,000 calls have changed hands, eight times the average intraday amount and double the number of puts traded. Leading the charge is the weekly 5/8 120-strike call, where new positions are being opened. Buyers of this call are banking on more gains for BYND by the end of the week, when the options expire.
Published on May 5, 2020 at 10:03 AM
  • Buzz Stocks
SBUX is experiencing plenty of call activity in the options pits already. At last check, over 8,500 calls have crossed the tape, double the number of puts traded and volume pacing for the 94th percentile of its annual range.
Published on Apr 27, 2020 at 2:53 PM
  • Most Active Weekly Options
  • Intraday Option Activity
  • Editor's Pick
Below, we'll take a closer look at the options activity surrounding the two semiconductor stalwarts, and see how they has been performing on the charts amid the coronavirus outbreak.
Published on Apr 27, 2020 at 1:23 PM
Updated on Apr 27, 2020 at 1:24 PM
  • Intraday Option Activity
  • Earnings Preview
The marijuana producer just announced plans to release its first-quarter earnings report next Friday, May 8, and options players are placing bets on CRON ahead of the event. 
Published on Apr 24, 2020 at 2:25 PM
  • Buzz Stocks
In the options pits, traders could be betting on some sort of short-term bounce with calls. At last check, over 7,700 calls have been ordered up, double the intraday volume and two times the number of puts changing hands. 

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