Warby Parker announced worse-than-expected first-quarter results
Warby Parker Inc (NYSE:WRBY) is garnering attention today, after the eyewear company posted surprise first-quarter losses per share and a revenue miss. The company attributed most of its dismal results to expenses related to going public this past September.
At last glance, WRBY was down 2.6% to trade at $16.98, heading back towards its May 12 record low of $15.02. The equity is already down over 63% year-to-date, with several moving averages lingering above, including the 80-day trendline.
Warby Parker stock could be due for a short-term bounce, however, as its relative strength index (RSI) of 29.5 sits in "oversold" territory. Plus, short interest makes up a whopping 24.2% of the stock's available float, or over 11 days' worth of pent-up buying power.
Meanwhile, puts have been winning out in the options pits. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), WRBY sports a 10-day put/call volume ratio of 9.83. Today, puts are still seeing greater absolute volume, though calls are running at five times the intraday average.