500.com Limited (WBAI) Option Bulls Are Back At It

500.com Ltd (WBAI) options traders have grown more optimistic recently

Digital Content Group
Apr 7, 2015 at 12:53 PM
facebook X logo linkedin


Soaring 500.com Ltd (NYSE:WBAI) is seeing a spike in call activity today, after the company confirmed that its approval to provide Internet lottery sales in China hasn't been revoked. Specifically, the contracts are crossing at 11 times the normal intraday pace, with the April 15 call garnering the most attention. It appears traders are buying to open the contract, expecting further gains above $15.

Looking back, call buying was also popular last week in WBAI's options pits, though there was still plenty of bearish activity, as well. Outside of the options pits, though, short sellers are running rampant. Short interest currently represents 23.4% of WBAI's float, after seeing a 57% increase during the most recent reporting period.

These pessimistic traders are likely disappointed in their bets. 500.com Ltd (NYSE:WBAI) has added 31% today to trade at $16.11, and is poised to take out its 80-day moving average for the first time since early September. There's also potential for price-target hikes, should the shares continue gaining. WBAI's consensus 12-month price target rests at $14.

Daily Chart of WBAI since August with 80-Day MA
 

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