Calls are popular in the options pits today
Under Armour Inc (NYSE:UAA) shares were last seen up 0.5% to trade at $5.45, after news that Fairfax Financial Holdings (FRFHF) increased its ownership stake after the sportswear makers' difficult year. Fairfax now owns nearly 42 million UAA shares, representing about 22% of the company.
The stock has struggled to rebound since its 18% bear gap back in early August, but is now up roughly 32% since its Nov. 20, 2025, 15-year of $4.13. UAA has also finished higher in nine of the last 10 trading sessions and is now grappling with long-term pressure at the 200-day moving average, which it broke above earlier today.
Short interest remains elevated, with a 29.22% SI/float ratio that could set the stage for a short squeeze. It would take nearly six days to cover the 55.05 million shares sold short. What's more, three analysts call the stock a "buy" or better, while 22 rate it "hold" or worse, leaving plenty of room for upgrades.
Options traders are active as well. So far, 3,067 calls have changed hands -- double the intraday average volume. The most active contract by far is the January 6 call, followed by the January 2027 22.5-strike call.