Traders Cheer as Sky-mobi Limited (MOBI) Gets Walloped

Sky-mobi Ltd (NASDAQ:MOBI) is getting destroyed on quarterly earnings

May 26, 2015 at 10:22 AM
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Sky-mobi Ltd (ADR) (NASDAQ:MOBI) is taking it on the chin amid poorly received quarterly results. Specifically, the shares are down 7% at $4.14, bringing their year-over-year deficit to 42.3%. However, a number of short-term options traders may be pleased with the downward move.

Among options expiring in the next three months, open interest is tilted in a slightly more put-skewed direction than usual. Specifically, MOBI's Schaeffer's put/call open interest ratio (SOIR) of 0.19 outstrips 62% of comparable readings from the past year.

Elsewhere on the sentiment front, short interest more than doubled during the most recent reporting period. However, even after that surge, just 1% of Sky-mobi Ltd's (NASDAQ:MOBI) float is sold short -- and would take less than a single session to repurchase, at typical daily trading levels.

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