Activision Blizzard Stock Continues Climb from Annual Lows

Call traders bombarded the equity this morning

Deputy Editor
Dec 28, 2021 at 3:18 PM
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Video game stock Activision Blizzard Inc (NASDAQ:ATVI) climbed on the charts this month, following a bounce off its Dec. 3 annual low of $56.40. ATVI is up 1.6% to trade at $66.50 at last check, on track for its 10th day of gains in the last 11 sessions. Plus, the equity is contending with its 50-day moving average, which it hasn't closed above since early November. 

ATVI Dec28 

This positive price action attracted plenty of call traders, with call volume earlier running at three times the usual rate as options traders rushed to get in on the action. At this point in the day, 41,000 calls have crossed the tape, compared to 15,000 puts. The February 80 call is the most popular, followed by the weekly 12/31 68-strike call, with new positions being opened at the latter. 

The brokerage bunch leans bullish as well. Of the 21 analysts in coverage, 14 carry a "buy" or better rating on ATVI, with seven a "hold" or worse. Plus, the 12-month consensus price target of $92.47 is a 39% premium to current levels.

 

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