Call Traders Take Advantage of PayPal Stock's Dip

PYPL is tumbling after reporting second-quarter results

Digital Content Manager
Aug 3, 2023 at 3:21 PM
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PayPal Holdings Inc (NASDAQ:PYPL) is causing quite the stir today, after its second-quarter profits matched estimates. The company's adjusted operating margins of 21.4% missed forecasts, however, casting a shadow on its upbeat revenue outlook while also spurring growth concerns. At last check, PayPal stock is down 11.2% at 64.99.

Options traders aren't shying away, with 381,000 calls and 199,000 puts exchanged so far, which is four times the intraday average volume. The weekly 8/4 65-strike put and 65-strike call are the most popular contracts, with positions currently being opened at both.

The options pits have favored bullish bets for a while. This is per PYPL's 50-day call/put volume ratio of 3.76 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 97% of readings from the past year. 

Last seen down 11.3% to trade at $64.93 at last check, the shares are on track to close below their 80-day moving average for the first time since July. The security is also on track for its biggest single-day percentage loss since May 9, and now carries a 33.8% year-to-date deficit.

PYPL 80 Day 2


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