Roblox's Impressive September Metrics Spark Red-Hot Options Activity

The stock is eyeing its best day in almost a year

Digital Content Manager
Oct 17, 2022 at 12:52 PM
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The shares of Roblox Corp (NYSE:RBLX) are surging toward their biggest daily jump since November 2021, up 19.9% at $42.62 this afternoon after the company reported impressive September 2022 key metrics. Roblox reported a 23% jump in daily active users (DAUs) since last year, and a 16% year-over-year rise in engagement hours to 4.0 billion. The company also shared that its estimated bookings came in between $212 million and $219 million, marking an 11% to 15% 12-month jump. 

Options traders are hitching their wagons to Roblox stock's wild trading activity, with 113,000 calls and 89,000 puts exchanged so far, which is five times the intraday average. The most popular position by far is the October 50 call, followed by the 45 call in the same monthly series, with positions being bought to open at both. 

This implies these bulls are eyeing even more upside for RBLX, which has shed 58.5% in the past year. Roblox stock has found a floor at its $33 mark, however. Plus, today's pop put the security back above recent pressure at the 160-day moving average. 

rblx oct 17

The penchant for calls today is unusual. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), RBLX sports a 10-day put/call volume ratio of 1.12, which sits higher than all other readings from the past year. In other words, puts have rarely been more popular. 

Roblox stock could be overdue for a round of analyst bull notes, should this positive price action continue. Of the 18 in coverage, just seven say "buy" or better, compared to 11 "hold" or worse ratings. Plus, the 12-month consensus price target of $41.89 is a slight discount to current levels. 


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