IPOs Keep Coming, as Fitbit Inc (FIT) Options Hit the Street

It's been a tremendous few weeks for IPOs, and that trend is continuing today. AlarmCom Hldg Inc (NASDAQ:ALRM) is breaking out in its Wall Street debut, surging 14.8% from its IPO price of $14 (subscription required) to trade at $16.07, while Xactly Corp (NYSE:XTLY) has tacked on an even more impressive 16% at $9.28.

Meanwhile, Wall Street rookie Fitbit Inc (NYSE:FIT) is pulling back, down 4.1% at $35.10, even as the fitness stock's options began trading today -- the earliest listing date possible, according to Options Clearing Corporation (OCC) rules. So far, 1,700 puts are on the tape, versus roughly 1,440 calls. Most active is the weekly 7/2 34.50-strike put, which option bears are buying to open in hopes of a continued decline through next Thursday's close, when the series expires.

In related news, options trading began earlier this week on Wingstop Inc (NASDAQ:WING) -- which publicly debuted just four sessions prior to FIT. However, volume has been extremely light, with just 30 contracts crossing per day, on average. Things are even slower this afternoon, with just one WING put and not a single call changing hands.