Facebook Stock Tries to Recover From Yesterday's Rout

Options volume is running at double the intraday average

Deputy Editor
Oct 5, 2021 at 10:38 AM
facebook X logo linkedin


The shares of social media giant Facebook, Inc. (NASDAQ:FB) are up 0.7% at $328.60 at last check, staging a modest comeback from yesterday's nearly 5% dip. That decline came after "60 Minutes" aired a whistleblower's interview, in which she discussed documents that alleged the social media company put profits over public safety by ignoring the negative impact of its platforms on younger users, and enabling the spread of misinformation. Separately, Facebook experienced its worst service outage in well over a decade, with Facebook, Instagram, and WhatsApp, all offline for more than six hours.

FB's options pits are bursting with activity this morning. So far, 80,000 calls and 67,000 puts have crossed the tape, which is almost double the intraday average. Most popular is the weekly 10/8 330-strike put, followed by the 335-strike call in the same series, with positions being opened at both.  

A broader look shows long puts haven't  been more popular of late. This is per FB's 10-day put/call volume ratio of 0.58, which stands above all other readings from the past 12 months at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). 

The last time we looked at Facebook stock, the equity pulled back from all-time highs following an earnings report. However, the shares quickly bounced back, with help from the 40-day moving average, to hit a new record high of $384.33 on Sept. 1. Now, the stock is testing its 150-day moving average, which it closed below for the first time since March during yesterday's session. Year-to-date, FB remains up 21.2%. 

 

 

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