Options Traders Continue to Target Ford Stock After Bear Gap

The stock is still recovering from its late-October post-earnings plummet

Deputy Editor
Nov 6, 2023 at 1:09 PM
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    Ford Motor Co (NYSE:F) stock is sliding today, down 1.6% at $10.39 at last check, after Evercore ISI lowered its price target from $11 to $10. The stock has only recovered a portion of its steep post-earnings losses, dropping 12.3% on Oct. 27 after its disappointing full-year forecast. Since the start of the year, the equity is down 6.4%. 

    F Nov6

    Meanwhile, options traders have been targeting the stock after the earnings event, as the equity found its way onto Schaeffer's Senior Quantitative Analyst Rocky White's list of names that saw the highest weekly options volume in the last two weeks. Per White's data, 1,716,369 calls and 1,449,704 puts have been exchanged within that period. The January 2025 9.35-strike put was the most popular contract during this time, followed by the weekly 11/3 10.50-strike call. 

    MAO Nov6

    These options traders are in luck, too, as premiums are attractively priced at the moment. F's Schaeffer's Volatility Index (SVI) of 28% ranks in the low 5th percentile of its annual range, meaning options traders are pricing in low volatility expectations at the moment. 

     

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