UAA is testing a key trendline on the charts today
Shares of athletic wear name Under Armour Inc (NYSE:UAA) are up 0.8% to trade at $6.26 this morning, enjoying a post-earnings lift on the charts. The company posted a narrower-than-expected fiscal fourth-quarter loss and topped revenue estimates. CEO Kevin Plank said turnaround efforts are paying off, despite the "complex macroeconomic backdrop" with tariff tensions.
UAA is facing off with its 80-day moving average and remains 24.5% lower for 2025. May has had a strong start however, with the shares up nearly 10% so far, breaking above the $6 ceiling just yesterday.
Options traders were bullish heading into today. The equity's 50-day call/put volume ratio of 6.68 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 76% of readings from the past year.
The options pits are red-hot today as well, with total options volume running at triple the average daily pace. Most popular is the May 6 put, with the May 6 call following closely behind.
Shorts have been retreating, down 6.3% in the most recent reporting period. However, the 32.80 million shares sold short accounts for 17.4% of UAA's total available float, making a short squeeze a real possibility going forward. .