Under Armour Stock Up On C-Suite Shakeup

Founder and CEO Kevin Plank will step down in 2020

Managing Editor
Oct 22, 2019 at 9:56 AM
facebook X logo linkedin

The shares of Under Armour Inc (NYSE:UAA) are in focus today, after founder and CEO Kevin Plank announced he will step down in 2020. Replacing him will be current Chief Operating Officer Patrik Frisk, who joined the company in 2017 and has been a key part in the retailer's recent three-year transformation plan.

The shakeup has Under Armour stock up 1.2% to trade at $20.34 this morning, on track for its highest close in roughly a month. It has been a roller coaster ride for the shares, which traded as high as $27.72 on July 25, only to fall as low as $17.64 less than a month later. UAA now sports a 15% year-to-date lead and is up 2.2% this quarter, a typically bearish period for the retailer. 

Calls are all the rage lately in the options pits. On the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day call/put volume ratio of 10.68 indicates traders have bought to open more than 10 UAA calls for every put in the past two weeks. This ratio ranks in the 99th annual percentile, indicating the rate of call buying relative to put buying has been quicker than usual.

However, there's a chance some of those calls could be short sellers seeking an options hedge against any additional upside. That's because 19.4% of UAA's total available float is sold short, which accounts for eight days' of buying power, at the stock's average pace of trading. 


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