Li Auto Stock Surges After Strong Delivery Numbers

Options volume is running at triple what's typically seen at this point

Deputy Editor
Apr 1, 2022 at 10:46 AM
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Li Auto Inc (NYSE:LI) is surging this morning, alongside fellow China-based electric vehicle (EV) maker Nio (NIO) after both company's announced strong March delivery numbers. Li Auto reported 31,716 vehicles deliveries in March -- more than double the total from a year ago. At last glance, LI is up 8.4% to trade at $27.98. 

For the past couple weeks, LI's 80-day moving average has kept a firm lid on the shares, while the $26 level has provided some support. With the 80-day still lingering overhead, LI is down roughly 13% year-to-date. 

Amid the news, options traders are targeting LI at triple the intraday average. So far, 12,000 calls and 8,696 puts have crossed the tape. The weekly 4/1 27-strike put and 27-strike call are the most popular, followed by the 28.50-strike call in the same weekly series, all of which expire today. 

Meanwhile, the brokerage bunch shows little opportunity for bull notes, with all six analysts in coverage carrying a "strong buy" rating. Plus, the 12-month consensus price target of $40.70 is a 46.6% premium to current levels. 

 

 

 

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