Traders Bet Two Ways on Zebra Technologies Corporation (ZBRA)

Zebra Technologies Corp. (ZBRA) is fresh off a record high of $106.92

by Alex Eppstein

Published on May 13, 2015 at 1:35 PM

Zebra Technologies Corp. (NASDAQ:ZBRA) is among the biggest gainers on the Nasdaq, up 10% at $103 on better-than-expected first-quarter results. In fact, shares of the asset intelligence company earlier raced to a record high of $106.92. However, a number of option bears foresee a retreat back into double-digit territory for the stock.

Diving right in, ZBRA puts are crossing at 10 times what's expected at this point in the session. A sizable portion of the activity is transpiring at the June 100 put, where contracts are being bought to open. In other words, these skeptics predict the equity will slip below $100 by the close on Friday, June 19, when back-month options expire.

Of course, not everyone today has been bearish toward ZBRA. The May 105 and June 110 calls are seeing buy-to-open action, as speculators wager on additional upside through the respective expiration dates.

Longer term, call buying has been the more popular of the two strategies in Zebra Technologies Corp.'s (NASDAQ:ZBRA) options pits. Specifically, during the past 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), traders have bought to open nearly 1,200 calls, compared to roughly 110 puts.

A Schaeffer's exclusive!

The Expert's Guide

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


 
 

Partnercenter


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


The Nevada Discovery That Could Jeopardize Chinese Dominance
Click to continue to advertiser's site.
Zoom Stock Brushes Off Senate Warning
The U.S. Senate just warned its members against using Zoom as a video chat platform
Costco Stock Dips on Bear Note
Deutsche Bank cut its price target to $295 from $300
The Top Lithium Play of 2020
Click to continue to advertiser's site.