Online Dating Stock Surges on More Paid Subscriptions

Options traders are swiping right on MTCH post-earnings

Digital Content Manager
Nov 2, 2022 at 11:08 AM
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Online dating concern Match Group Inc (NASDAQ:MTCH) is sharply higher today, last seen up 6.9% at $46.94, after announcing better-than-expected third-quarter earnings of 44 cents per share, as well as a revenue win of $809.55 million. The company attributed the strong results to more paid Tinder subscriptions.

Options traders are swiping right on Match Group stock. So far, 7,604 calls and 7,041 puts have crossed the tape, which is four times the volume that is typically seen at this point. Most popular by far is the weekly 11/04 45-strike call, with positions being opened at the 35-strike put in the same weekly series.

Calls have been favored in the options pits during the last 10 weeks. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), MTCH's 50-day call/put volume ratio of 2.95 ranks higher than 95% of readings from the last year.

The brokerage bunch is fiercely optimistic as well, with 14 of the 19 analysts in question calling MTCH a "buy" or better, while the 12-month consensus target price of $73.76 is a 57.4% premium to current levels.

Digging deeper, Match stock is today pacing for its first close above the 20-day moving average since mid-September. The shares are bouncing off their Oct. 21 two-year low of $40.23. MTCH has shed over 64% in 2022, though.


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