CrowdStrike Stock Hits 2-Year Highs After Bull Note

Morgan Stanley upgraded the stock to "overweight" from "equal-weight"

Deputy Editor
Jan 9, 2024 at 11:24 AM
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CrowdStrike Holdings Inc (NASDAQ:CRWD) is jumping to two-year highs today, up 4.8% at $273.89 at last glance. This positive price action comes after Morgan Stanley upgraded the shares to "overweight" from "equal-weight," with a price-target hike to $304 from $203. The firm cited strong demand for the cybersecurity name's services amid an uptick in ransomware attacks. 

CRWD is already up more than 10% since the start of the week, rebounding after three-straight weekly losses. Over the past year, the equity is sporting an impressive 183.9% gain. 

Amid the high options volume today, traders are leaning bullish. So far, 48,000 calls and 19,000 puts have been exchanged, which is six times the intraday average volume. The weekly 1/12 275-strike call is the most active contract, followed by the 270-strike call in that same weekly series, with new positions being opened at both. 

These options are affordably priced, too. The stock's Schaeffer's Volatility Index (SVI) of 31% ranks in the extremely low 3rd percentile of its annual range, meaning options traders are pricing in low volatility expectations. 

 

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