Vinco Ventures Stock Takes Breather After Retail Trading Frenzy

Options traders are still targeting the sinking stock

Digital Content Manager
Jan 19, 2022 at 2:11 PM
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Vinco Ventures Inc (NASDAQ:BBIG) was last seen down 20.8% at $4.11, taking a step back from yesterday's 27.5% surge. Tuesday's session marked BBIG's largest jump since late-August, thanks to a retail investor frenzy that made it the most actively traded stock across U.S. exchanges by midday, pressuring short sellers. However, a Reuters report noting signs of fatigue among traders could be turning off those that targeted BBIG yesterday. 

Nevertheless, BBIG boasts a 162.7% year-over-year lead, while the 200-day moving average has captured today's pullback. The $5.50 level could be one to watch, though, as it rejected additional upside during yesterday's session, and weighed on the shares during a late-October selloff. 

bbig jan 19

Today's negative price action has done little to deter options bulls. So far, 327,000 calls and 95,000 puts have crossed the tape -- eight times the intraday average. The most popular contract is the January 5 call, followed by the 6 call in the same series. 

As we mentioned before, yesterday's pop put pressure on short sellers, who have been firmly in control. In fact, the 27.72 million shares sold short make up a whopping 31.7% of the stock's available float, even with short interest falling 8.8% in the last reporting period. It's worth noting, however, that the security has made its way onto the Short-Sale Restricted (SSR) list today. 

 

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