Upward Trajectory Brings Out Priceline Group Inc. (PCLN) Bulls

Priceline Group Inc (PCLN) intraday call volume is running at two times the typical rate

by

Published on Feb 25, 2015 at 1:43 PM
Updated on Apr 20, 2015 at 5:32 PM

Priceline Group Inc (NASDAQ:PCLN) has surged 2.4% today to trade at $1,248.98, and this has caught the attention of short-term traders -- per the stock's 30-day at-the-money implied volatility, up 3.9% to 20.4%. What's more, calls are crossing at two times the expected clip for this point in the session.

Drilling even deeper, all 10 of PCLN's most active options expire within the next four weeks, eight of which will stop trading at this Friday's close. The weekly 2/27 1,240-strike call is among the most popular, with speculators initiating long positions in the hopes of additional gains through expiration.

Options traders aren't the only ones with high expectations for PCLN. Over three-quarters of the analysts tracking the shares have doled out a "buy" or better opinion, with not a single "sell" to be found. Also, less than 3% of the equity's float is sold short, which would take just under two days to cover, at typical daily trading levels.

This optimism is warranted, given Priceline Group Inc's (NASDAQ:PCLN) on-chart performance. Year-to-date, the stock has already added about 9.5%, and it recently benefited from a post-earnings bull gap.


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