Why Options Traders Are Blasting Krispy Kreme Stock

Total options volume is running at more than 269 times the average intraday amount

Deputy Editor
Mar 26, 2024 at 10:16 AM
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Krispy Kreme Inc (NASDAQ:DNUT) stock is 21.9% higher at $15.17 at last glance, following news that the company will sell its donuts in McDonald's (MCD) restaurants in the U.S. by the end of 2026. This new partnership will double Krispy Kreme's current distribution. 

DNUT's typically quiet options pits are brimming with activity. So far today, 9,212 calls and 5,333 puts have crossed the tape, which is 269 times the average intraday volume. New positions are opening at the most popular May 12.50 put. 

This denotes a slight shift in sentiment. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows Krispy Kreme stock's 10-day call/put volume ratio of 6.98 ranks in the 81st annual percentile of annual readings.

Elsewhere, there's room for analyst sentiment to unwind, considering six of eight in coverage rate DNUT a tepid "hold." What's more the 12.8 million shares sold short account for 17.2% of the equity's available float. 

After bouncing from their lowest mark since November, the shares earlier hit their highest level since July 2023. Krispy Kreme stock is pacing for its best single-session percentage gain on record, though it remains 1.9% lower for 2024.

 

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