CELH is up 12% in the last two days, but is still down 40% in 2024
Celsius Holdings Inc (NASDAQ:CELH) is one of the better stocks on the Nasdaq Composite (IXIC) today, last seen up 10% to trade at $33.83. The energy drink stock is reacting well to Piper Sandler maintaining its "overweight" rating and lofty $47 price target. The analyst in coverage cited a teenager survey that indicates Celsius is roughly 35% more popular among teens than the broader market.
CELH is on track for its best single-session gain since Feb. 29. The shares tacked on 6.2% yesterday as well, a much-needed bounce after falling to an annual low of $28.20 on Oct. 8. Year-to-date, the stock is down 40%, despite trading as high as $99.61 on March 14.
Call traders have been undeterred, per the stock's 10-day call/put volume ratio of 5.62 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) that sits higher than 96% of annual readings. However, given the 17% of CELH's total available float is sold short, its possible some of these calls could be shorts seeking an options hedge.
Today is no different. At last check, over 102,000 calls have changed hands, volume that's 20 times the average intraday amount and almost seven times the number of puts traded. Leading the charge is the weekly 10/11 35-strike call that expires tomorrow, with new positions being bought to open. The October 35 call is also popular.