Options Bulls Scored Big on Crocs Stock's Latest Rally

The security has added more than 21% quarter-to-date

Digital Content Manager
Dec 2, 2022 at 11:08 AM
facebook X logo linkedin

Subscribers to our Schaeffer's Weekend Trader service notched a 101% profit with our suggested Crocs, Inc. (NASDAQ:CROX) January 20, 2023 70-strike call in less than a month. Below, we dive into our reasoning for betting bullishly on the retail stock.

At the time of or recommendation on Sunday, Nov. 6, CROX was fresh off a 11% bull gap from a third-quarter earnings and revenue beat. This put the shares above a potential trendline of resistance connecting prior three-weeks highs, as well as the $77 region, which was a breakdown level in August from a trendline connecting higher lows. That also the site of the stock's previous post-earnings reaction as well, and a retake of that region could have squeezed out shorts.

It's also worth noting that short interest had also increased 60% since March. Using the 150-day moving average as proxy for average shorted price, shorts were underwater at around $64, suggesting they could begin covering into the end of the year.

Though short covering is still on the table -- the 5.13 million shares sold short make up 8.5% of the stock's available float -- CROX did surge since our recommendation. In fact, Crocs stock was last seen up 1.2% at $100.86. Prior to yesterday's multi-month high, we closed our position, allowing traders to collect the full 101% profit and double their money within a month.

  CROX Intraday


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI