Peloton (PTON) disappointed the crowd setting up for a big win on earnings. It seems to be a relentless group, because the Call activity is picking up again.
Unusual Call Options Activity in PTON
You can see from the data that over 67,000+ PTON options have traded on the day, mainly on the Call side. In fact, I will tell you most of them are in the next two weeks.
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This particular trade in March is interesting. 7k contracts of the March 21st $30 Calls have trade already but the buyer seems to be coming back. There is no outright event to look at, but look at the buyer's Risk Reward Breakeven Price (RR$):
The buyer's risk reward level is north of $34.69. Now, if you look at the chart, that's right back to pre-earnings levels. Interesting!
Can it get there?
What do you think?
Comment below and let me know.
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