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

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


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.

A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!



NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

Look Who's Going Bankrupt Next in America
Porter Stansberry is making a concerning prediction.
First Week in April Provides More Coronavirus-Related Volatility
A slew of coronavirus-related news sent markets on another weekly roller coaster ride
Netflix Stock Heading into Historically Bullish Quarter
NFLX's 10-day moving average has stepped up as support lately
Look Who's Going Bankrupt Next in America
Porter Stansberry is making a concerning prediction.