Nutanix Stock Soars as Company Considers Sale

Call traders are coming out of the woodwork

Deputy Editor
Oct 14, 2022 at 11:01 AM
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Nutanix Inc (NASDAQ:NTNX) is surging today, up 23% to trade at $26.00 at last glance, after news that the company is exploring a sale. According to the Wall Street Journal, the cloud computing company has received buyout interest, and that is expected to target private-equity and industry players for the sale. 

Despite now trading at its highest levels since early May, NTNX is still down 18.8% year-to-date. Support at the $20 level served as a floor before today's pop, coinciding with the ascending 50-day moving average. 

The options pits have been more bearish than usual, as per Nutanix stock's 10-day put/call volume ratio of 1.24 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio ranks higher than 94% of readings from the past year, indicating a strong penchant for puts. 

There appears to be a shift in sentiment today, however. So far, 5,219 calls have been exchanged -- 18 times the intraday average -- in comparison to 2,688 puts. The October 26 call is the most popular, with new positions being bought to open there. 


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