Call Buyers Dominate Under Armour, Inc. (UA) Options Pits

Two brokerage firms weighed in on Under Armour Inc (UA)

by

Published on Apr 8, 2015 at 2:09 PM
Updated on Apr 20, 2015 at 5:32 PM

Under Armour Inc (NYSE:UA) is 1.8% higher today at $82.29, and earlier touched a record high of $82.80, after FBR raised its price target on the shares to $92 from $90, and DA Davidson boosted its price target to $88 from $81. In the options pits, call volume is accelerated, with possible buy-to-open activity at the April 80 call. Traders purchasing the contracts are looking for further gains above the round-number $80 level by the time the options expire at the close next Friday, April 17.

Looking back, UA options traders have been decidedly put-skewed. The stock's Schaeffer's put/call open interest ratio (SOIR) comes in at 1.47 -- higher than 98% of all readings from the past year. Going by this, short-term traders have been more put-focused only 2% of the time in the last 52 weeks.

UA Put/Call Chart

Under Armour Inc (NYSE:UA) has now added 21.2% in 2015, and could get a boost from more positive attention from analysts. For example, 12 brokerage firms maintain "hold" or worse ratings on the equity. Plus, UA has already surpassed its consensus 12-month price target, which sits at $78.85. In other words, the stage is set for additional upgrades and/or price-target hikes.


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