Ford Stock Captures Five-Year High on Electric Initiative

F is seeing five times its typical call volume at this point in the day

Deputy Editor
May 26, 2021 at 11:10 AM
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The shares of Ford Motor Company (NYSE:F) are up 4.4% to trade at $13.36 at last check, after the company announced its new "Ford+" initiative, which includes plans to increase its investment into electric vehicles to $30 billion through 2025, and its aim to have 40% of its volume be electric by the end of 2030. 

Today's pop has Ford stock just off a fresh five-year high of $13.79, breaking above multi-month overhead pressure at $13.50. Further, with long-term support at the 100-day moving average, F is up 129.9% year-over-year.

Meanwhile, bulls have been winning out in the options pits. Ford stock sports a 10-day call/put volume ratio of 6.04 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio stands higher than 74% of readings from its annual range, indicating a relatively stronger-than-usual penchant for calls.

Today, call traders are stampeding to F, with 514,000 calls across the tape so far -- five times what's typically seen at this point. Most popular is the weekly 5/28 13.50-strike call, followed by the weekly 6/4 14-strike call, with new positions being opened at both. This shows plenty of traders betting on the equity to hit that aforementioned level of pressure by the end of week, and plenty expecting it to break out past it by the end of next week. 

That said, speculating on the security's next move with options could be a prudent play. The stock's Schaeffer's Volatility Index (SVI) of 40% stands higher than just 12% of all other readings in its annual range, implying that options players are pricing in low volatility expectations at the moment. 


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