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Zacks Equity Research
Options Traders Expect Huge Moves in Sphere 3D (ANY) Stock
December 20, 2016
by Zacks Equity Research Published on December 20, 2016 |
ANY
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Investors in shares of Sphere 3D Corp. (ANY - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the Call which expires on May 19, 2017 for the $1strike price had some of the highest implied volatility of all equity options today.
What is Implied Volatility?
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility could mean that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that could cause a big rally or a huge sell off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?
Clearly, options traders are pricing in a big move for Sphere 3D shares, but what is the fundamental picture for the company? Currently, Sphere 3D is a Zacks Rank #3 (Hold) in the Computers - IT Services industry that ranks in the bottom 48% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while one analyst has revised the estimate downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from a loss of 16 cents to a loss of 17 cents in that period.
Given the way analysts feel about Sphere 3D right now, this huge implied volatility could mean there’s a trade developing. Often times, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
Looking to Trade Options?
Each week, our very own Dave Bartosiak gives his top options trades. Check out his recent live analysis and options trade for the LULU earnings report completely free. See it here: Bartosiak: Trading Lululemon (LULU) Earnings with Options or check out the embed video below for more details:
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Sphere 3D's Glassware 2.0 Successfully Migrates Legacy Apps for the Enterprise
12/20/16-8:57AM EST GlobeNewswire
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Sphere 3D receives second, unsolicited expression of interest
12/19/16-10:31AM EST Seeking Alpha
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11/17/16-8:25AM EST GlobeNewswire
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