Marin Software Stock Surges on Snap Integration

Overall options volume is running at 84 times what is typically seen at this point

Digital Content Manager
Aug 23, 2022 at 10:07 AM
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Online advertising name Marin Software Inc (NASDAQ:MRIN) is surging today, last seen up 18.9% at $2.08, after the company announced a new integration with social media giant Snap (SNAP). The collaboration will give advertisers better insights and performance for campaigns on the platform. 

The equity has jumped back above the 100-day moving average, which could mark MRIN's second close above the moving average since October 2021. Shares have added 24.5% quarter-to-date, but still carry a hefty 44.5% year-over-year deficit.

Options bulls have been piling on the security of late. This is per MRIN's 50-day call/put volume ratio of 642.00 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 96% of readings from the past year. This suggests  long calls have been getting picked up at a much quicker-than-usual pace.

Today's options volume is also unusual, with 2,227 calls and 140 puts across the tape so far, which is 84 times what is typically seen at this point. The most popular contract is the September 2.50 call, where positions are currently being opened, followed by the 3 call in that same monthly series.

 

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