Most Active Weekly Options: Twitter Inc and GoPro Inc

Option traders switch sides on bouncing Twitter Inc (NYSE:TWTR), while put buyers see a bigger slide for GoPro Inc (NASDAQ:GPRO)

Feb 18, 2016 at 11:44 AM
facebook twitter linkedin


The 20 stocks listed in the table below have attracted the highest total weekly options volume during the past 10 trading days. Stocks highlighted are new to the list since the last time the study was run, and data is courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. Two notable names are microblogging stock Twitter Inc (NYSE:TWTR) and wearable camera company GoPro Inc (NASDAQ:GPRO).

160218MAO

TWTR has been bathed in negative sentiment -- both in and out of the options arena -- of late. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), for example, the equity's 10-day put/call volume ratio of 0.77 rests above all other comparable readings taken in the past year.

Today, though, with the stock up 0.6% at $17.57 on news Executive Chairman Omid Kordestani and Chief Financial Officer Anthony Noto bought more than 122,000 and 15,500 shares, respectively, calls are crossing the tape at an accelerated clip. Most active are Twitter Inc's February and January 2018 18-strike calls, which could possibly be seeing buy-to-open activity. If this is the case, these call buyers expect TWTR to extend its Presidents Day momentum in both the short and long term.

Put buyers have also been active in GPRO's options pits in recent months, per the security's 50-day ISE/CBOE/PHLX put/call volume ratio of 0.66 -- in the 93rd annual percentile. This morning, puts are trading at a slightly higher-than-usual clip, and it looks like speculators could be initiating new long positions at the security's February 12 strike -- which expires at this Friday's close.

From a wider perspective, while peak put open interest of 8,542 is located at the deep in-the-money February 20 strike, a lofty accumulation of front-month put open interest is currently found at the February 10 strike. According to the ISE, more than 2,800 contracts have been bought to open since late December. In other words, a number of speculators expect GPRO to finish the week in single-digit territory. At last check, the shares of GoPro Inc were off 4.7% at $12.38.

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Best stocks for October and worst stocks for October
 


 


 
Special Offers from Schaeffer's Trading Partners