Online Retailer Pops on New Bed Bath & Beyond Assets

Call traders are getting in on the stock's rally

Deputy Editor
Jun 22, 2023 at 10:47 AM
facebook X logo linkedin Inc (NASDAQ:OSTK) is up 8.2% at $22.92 at last glance, after the company won the auction for some Bed Bath & Beyond digital assets, including intellectual property. The $21.5 million sale is subject to approval by the bankruptcy court at a hearing on Tuesday. OSTK was earlier as high as $23.45, its highest level since February, and currently sports a 17.7% year-to-date lead. 

The 7,444 calls exchanged so far is five times the volume typically seen at this point. The weekly 6/23 23-strike call is the most active, followed by the 23.50-strike call in the same weekly series, with new positions being opened at the latter. 

Options traders have been much more bullish than usual leading up to today as well. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), OSTK's 50-day call/put volume ratio of 9.32 ranks higher than all other readings from the past year. 

Of the 10 analysts in coverage, eight carry a tepid "hold" rating, with two a "strong buy," while the 12-month consensus price target of $32.92 sits at a 43.7% premium to current levels. It's also worth noting that short interest represents 8.1% of the stock's available float. 



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