RedBox Stock Extends Rally, Options Traders Respond

The stock is trending on Stocktwits

Deputy Editor
Jun 13, 2022 at 10:29 AM
facebook X logo linkedin

RedBox Entertainment Inc (NASDAQ:RDBX) is bucking the broad-market selloff today, up 24.4% at $16.42 at last glance, as the short squeeze candidate extends its recent rally and trends on Stocktwits. Up 144.8% in the last week, RDBX is currently trading at its highest level since November. 

Short interest represents 38.6% of the stock's available float, after jumping 62.2% in the last two reporting periods. However, RDBX's 14-Day Relative Strength Index (RSI) of 82.1 stands in "oversold" territory -- a factor that is in favor of the security's looming correction. 

Options traders don't appear to be worried about the stock running out of steam just yet, with 67,000 calls exchanged so far, in comparison to 15,000 puts. This has overall options volume running at seven times the intraday average. The June 28 call is the most popular, followed by the 18 call in the same monthly series, with new positions being opened at the former.

Meanwhile, analysts lean bearish. Of the four in coverage, three carry a "hold" or worse rating. In addition, the 12-month consensus price target of $2.17 is an 87.3% discount to current levels. 


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI