Options Traders Change Course on Boyd Gaming Corporation (BYD)

Bullish traders target the $13 level for Boyd Gaming Corporation

Digital Content Group
Dec 30, 2014 at 3:28 PM
facebook X logo linkedin

Boyd Gaming Corporation (NYSE:BYD) has jumped over 7% today to trade at $13.03. As a result, activity in the stock's options pits has picked up considerably, with intraday volume at 53 times normal trading levels. Also, BYD's 30-day at-the-money implied volatility is up 13.2% at 44.2%, showing short-term options are in high demand.

Speculators are taking a mostly bullish stance today, with calls outpacing puts by a 10-to-1 margin. The most popular strike is the February 13 call, where roughly 19,400 contracts have been exchanged -- over 19 times more than any other strike. The majority of these calls crossed at the ask price, hinting at buy-to-open activity.

These speculators expect the security to top the $13 mark -- a level not touched since April before today -- by the close on Friday, Feb. 20, when the back-month series expires.

This interest in BYD calls goes against what's previously been seen in the stock's options pits. Per its Schaeffer's put/call open interest ratio (SOIR) of 1.03, in the 98th annual percentile, short-term speculators have only been more put-skewed 2% of the time in the past year.

Options traders haven't been the only ones unsure of Boyd Gaming Corporation (NYSE:BYD). Of the 10 analysts covering the security, eight rate it a "hold," and one rates it a "sell." However, today's price increase puts BYD even further above its consensus 12-month price target, which sits at $10.44.


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