Software Stock Surges After Upbeat Report

Analysts and options traders are targeting the stock today

Deputy Editor
Aug 19, 2022 at 11:16 AM
facebook twitter linkedin


Bill.com Holdings Inc (NYSE:BILL) stock is surging today, up 13.8% to trade at $170.08 at last glance, after the software concern's narrower-than-anticipated fiscal fourth quarter losses of 3 cents per share, better-than-expected revenue, and upbeat guidance. No fewer than nine analysts lifted their price targets after the event, with the highest from KBW to $269 from $245. 

Today's pop has BILL on track to snap a three-day losing streak, now trading at its highest levels since early May. The stock has moved higher -- albeit choppily -- since its May 12, nearly two-year low of $89.87, though it still sits 29.6% lower year-to-date. 

Options bulls are targeting enthusiastic after the results, with 11,000 calls exchanged so far -- 15 times the intraday average volume and over double the amount of puts. Expiring today, the August 180 call is the most popular, with new positions being bought to open there. These traders are in luck, as the security's Schaeffer's Volatility Scorecard (SVS) sits at a 93 out of 100, meaning it has exceeded option traders' volatility expectations in the past year.

Analysts are overwhelmingly bullish toward Bill.com stock as well. Of the 15 in coverage, 14 carry a "strong buy" rating. Meanwhile, short interest represents 6.3% of the stock's available float, or three days worth of pent-up buying power. 

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners