Options Bulls Eye FUBO's Russell 3000 Inclusion

Calls are running at double their intraday average

Deputy Editor
Jun 22, 2021 at 2:15 PM
facebook twitter linkedin

The shares of streaming name FuboTV Inc (NYSE:FUBO) are up 1.7% to trade at $32.16 at last check, after news that the stock will join the broad-market Russell 3000 Index, effective June 28. Extending yesterday's three-month highs, today's pop has previously middling FUBO breaking out past pressure at the $31 region. Year-to-date, the equity is up 14.1%. 

fubo jun 22

Meanwhile, options bulls are chiming in at double what's typically seen at this point. More specifically, 125,000 calls have crossed the tape so far today, in comparison to 12,000 puts. Most popular by far is the weekly 6/25 35-strike call, followed by the 33-strike call in the same series, with new positions being opened at both. 

However, FUBO could be due for a short-term breather. This is per the stock's 14-Day Relative Strength Index (RSI) of 66 is nearing "overbought" territory. Plus, the $34 mark still looms large. This region acted as a floor for FUBO prior to a bear gap the stock experienced in early March. Since then, it's kept a tight lid on the shares. 


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! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners