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GoPro, Inc. (GPRO) Hit by Option Skeptics

Analysts aren't the only ones betting against GoPro Inc (GPRO)

Digital Content Group
Mar 17, 2015 at 2:06 PM
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Despite being a long-term technical laggard, GoPro Inc (NASDAQ:GPRO) is once again overcoming broad-market headwinds today, up 3.3% at $40.67. In options land, calls are trading at a slight uptick to their typical rate for this point in the afternoon -- though it seems these contracts aren't all of the bullish variety.

Diving right in, GPRO's most active option is the weekly 4/2 41.50-strike call, where data suggests the majority of the 3,448 contracts on the tape have been sold to open. In other words, these call writers are banking on the $41.50 level to act as a technical ceiling through the close on Friday, April 2, when the weekly series expires. The shares last touched this strike on March 6.

Such skepticism is also reflected within the brokerage crowd. Of the 13 analysts tracking GPRO, eight have dished out a "hold" or worse opinion.

Of course, this shouldn't come as a huge surprise. As alluded to earlier, GoPro Inc (NASDAQ:GPRO) has been a dud on the charts. Since touching a record high of $98.47 in early October, the shares have plummeted 59%.

 

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