After Laying Low, Yeti Stock is Primed for Breakout

The stock sports reasonably priced premiums, as well

Apr 14, 2021 at 2:50 PM
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The shares of drinkware name Yeti Holdings Inc (NYSE:YETI) look poised for a breakout, after consolidating for most of 2021. The security has found support at its year-to-date breakeven level multiple times, and is now breaking above the +10% year-to-date level, which had been an area of resistance over the past two months. Plus, the +200% year-over-year mark has been another area of support, making now a great opportunity to speculate on YETI’s next move higher.
 

What’s more, the security is sitting above a large amount of call and put open interest at the 75-strike. In short, now is probably best time to buy, as our strike indicates.
 
Premiums on YETI are quite affordable at the moment, per the equity’s Schaeffer's Volatility Index (SVI) of 42%, which sits in the lowest percentile of its annual range. This implies option traders are pricing in low volatility expectations right now.
 
Meanwhile, Yeti stock’s Schaeffer's Volatility Scorecard (SVS) stands at an elevated 71 out of 100. In simpler terms,  the security has exceeded volatility expectations during the past 12 months -- a great thing for options buyers. Finally, our recommended call option has a leverage ratio of 4.2, and will double in a 24% pop in the underlying equity.

Subscribers to Schaeffer's Weekend Trader options recommendation service received this YETI commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. Learn more about why Weekend Trader is one of our most popular options trading services.


 

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