First Quarterly Profit Ever Sends Tech Stock Surging

Options volume is today running at 13 times the intraday average

Digital Content Manager
Mar 7, 2023 at 2:34 PM
facebook X logo linkedin

Sea Ltd (NYSE:SE) is surging today, last seen up 22.3% at $80.73, after the tech name reported its first quarterly profit, which came in at $ $1.29 cents per share -- beating Wall Street's expectations for the fourth quarter. The company announced a revenue beat as well, and attributed the results to the cost cuts implemented to curb slowing demand. 

Overall options volume is running at 13 times the intraday average so far, with 145,000 calls and 65,000 puts traded. Most popular is the weekly 3/10 80-strike call, where new positions are being opened.

That penchant for calls has been the norm lately. Over 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 2.40 sits higher than 83% of readings from the past 12 months. 

Short sellers are hitting the exits, with short interest down 6.3% in the most recent reporting period. The 23.19 million shares sold short still make up 5.1% of the stock's available float, or over one week's worth of pent-up buying power. Should pessimism continue to unwind, shares could extend their surge.

Sea stock is today trading at its highest level since mid-August, while looking to string together its fourth-straight win and best percentage daily gain since November. Shares are also looking to conquer overhead pressure at the 240-day moving average for the first time since December 2021.

 SE 240 Day


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI