Planet Fitness Stock Soars After Forecast Hike

Options traders were pessimistic ahead of the event

Deputy Editor
Nov 7, 2023 at 11:11 AM
facebook X logo linkedin

The shares of Planet Fitness Inc (NYSE:PLNT) are soaring today, up 13.3% at $62.52 at last glance, after the company issued an upbeat third-quarter report and raised its full-year forecast. More specifically, the fitness name expects 2023 revenue to increase by roughly 14%. 

Today's pop has PLNT trading at its highest levels since its early-August post-earnings bear gap, though it's still down approximately 20% since the start of the year. Long-term pressure at its 180-day moving average lingers just above today's gains, however. 

In the options pits so far today, 4,043 calls and 1,862 puts have been exchanged, which is already seven times the average daily options volume. The November 55 call is the most active contract, followed by the 65 call in the same series. 

This optimism amongst options traders denotes a shift in sentiment, as the options pits have been particularly put-heavy of late. Planet Fitness stock's 10-day put/call volume ratio of 3.00 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 89% of readings from the past year.

Shorts have been piling on PLNT recently as well, with short interest up 34.5% in just the last two weeks. Now, the 4.52 million shares sold short account for 5.4% 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