Speculators Eye GoPro Inc (GPRO) Amid Lockup-Induced Pop

GoPro Inc's first lockup period expired today

facebook X logo linkedin


GoPro Inc (NASDAQ:GPRO) was up by as much as 6.9% today -- amid the expiration of the company's first lockup period -- and was last seen 2.9% above breakeven at $59.59. Meanwhile, options volume is running at a 33% mark-up to the typical intraday rate, and the stock's 30-day at-the-money implied volatility has edged 1.5% higher to 72.7%, signaling elevated demand for short-term strikes.

Looking more closely, speculators are taking different paths toward GPRO. On the one hand, it appears option bulls are buying to open the January 2015 60-strike call, hoping the shares will topple the round-number mark by the close on Friday, Jan. 16, when the newly front-month options expire. On the other, shorter-term speculators are initiating long positions at the weekly 12/26 59-strike put, anticipating the stock will breach $59 by this Friday's close, when the series ceases trading.

Taking a step back, over the last month, option buyers have targeted calls over puts by a modest margin. Specifically, GPRO's 20-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio checks in at 1.22.

On the charts, it's been a volatile past few months for GoPro Inc (NASDAQ:GPRO), which ran to an all-time high of $98.47 in early October, before pulling back in recent months. However, today's gains have the stock primed to close atop its 10-day moving average for the first time since late November.

Daily Chart of GPRO since September 2014 with 10-Day Moving Average

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI