EARN25

Put Traders Target Sinking Fubo Stock

Fubo's subscriber outlook disappointed investors

Deputy Editor
Feb 27, 2023 at 12:34 PM
facebook X logo linkedin


Options traders are taking an interest in Fubotv Inc (NYSE:FUBO), after the streaming platform reported fourth-quarter earnings and revenue results.

Specifically, the company turned in wider-than-expected losses of 76 cents per share, while revenue of $319.32 million beat Wall Street's expectations. Meanwhile, FUBO was last seen 11.3% lower to trade at $2.05, weighed down by a disappointing subscriber outlook. 

Bearish traders are on the prowl following the update, and 50,000 puts, or 10 times the intraday average volume, have already been traded near the session's halfway point.  The most popular contract is the March 2 put, followed by the weekly 3/3 2.50-strike put, with new positions being opened at the former. 

This denotes a slight shift in the options pits, as calls were the popular choice over the last 10 weeks. Specifically, at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 50-day call/put volume ratio of 3.97 sits higher than 70% of annual readings.

Meanwhile, short interest makes up 23.5% of the security's available float, or nearly one week's worth of pent-up buying power. However, the security has landed on the Short Sale Restricted (SSR) list today. 

On the charts, the equity is still wallowing in penny stock territory, and is pacing for its lowest close in more than a month today. Year-to-date, however, Fubo stock is still up 17.5%.

 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!