Call Buyers Active as GoPro, Inc. (GPRO) Collapses

GoPro Inc's (NASDAQ:GPRO) fall from grace is continuing this morning, with the shares down 5.4% at $42.21 -- their largest intraday deficit since Feb. 18. Since reaching a record $98.47 in early October, the stock has plummeted 57% to flirt with six-month lows. Today, however, at least one group of options traders appears to be keeping the faith, despite concerns about competition out of China.

Taking a quick step back, GPRO calls are crossing at a 74% mark-up to the typical intraday rate. Meanwhile, buy-to-open activity may be transpiring at the weekly 3/6 45-strike call, as speculators roll the dice on a rebound by next Friday's close -- when the series expires. The largest trade at the strike consisted of 1,000 contracts, and Trade-Alert indicates it was tied to stock.

Elsewhere on the Street, skepticism is mounting on GoPro Inc (NASDAQ:GPRO). Short interest shot nearly 35% higher during the last two reporting periods, and more than 35% of the equity's float is currently sold short. What's more, eight out of the 13 analysts tracking the shares have doled out a "hold" or worse opinion.