Most Active Options Update: GoPro Inc (GPRO)

Call players continue to target GoPro Inc

Nov 25, 2014 at 3:00 PM
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The 20 stocks listed in the table below have attracted the highest total options volume during the past 10 trading days. Names highlighted are new to the list since the last time the study was run, and data is courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. One name of notable interest today is GoPro Inc (NASDAQ:GPRO), where short-term traders are rolling the dice on end-of-week gains.

Most Active Options Table

Option traders have shown a preference for long calls over puts on GoPro Inc in recent weeks. Specifically, speculators on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have bought to open 1.53 calls for every put during the past 10 sessions.

This call-skewed trend is continuing today, as calls are outpacing puts by a roughly 2-to-1 margin. Most active on the call side is GPRO's weekly 11/28 75 strike, where 3,480 contracts are on the tape. The majority of these calls have traded on the ask side, and volume outstrips open interest, making it safe to assume new positions are being purchased.

Based on the volume-weighted average price (VWAP) of $1.04, breakeven at this Friday's close is $76.04 (strike plus VWAP). Profit for today's call buyers is theoretically unlimited beyond this point, while losses are capped at the initial cash outlay, should GPRO finish the week south of the strike price.

On the charts, GoPro Inc (NASDAQ:GPRO) has been a technical marvel since going public in late June, with the shares up roughly 160%. The stock is extending this momentum today, tacking on more than 3% to trade at $74.75, on no apparent news.

 

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