Home > Boards > Free Zone > All Trading - Technical > Market Direction and Stock Trends

Clover Health Investments (CLOV) Stock's Options Pits Go

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
DiscoverGold Member Profile
Member Level 
Followed By 573
Posts 78,165
Boards Moderated 44
Alias Born 03/10/04
160x600 placeholder
Top Company News of the Day
Axel Springer, whose $1 billion acquisition of Politico is expected to close next week, is also planning foreign-language editions.
Corn Rises as Farmers Hold on to Harvests -- Daily Grain Highlights
Front Month Nymex Natural Gas Fell 2.79% This Week to Settle at $5.4100 -- Data Talk
Front Month Nymex RBOB Gasoline Rose 5.08% This Week to Settle at $2.4864 -- Data Talk
CureVac Shares Down 12%
Housing Starts and Existing Home Sales on the Docket -- Data Week Ahead
Twitch Confirms Source Code Leak; Passwords Not Exposed
U.S. Oil-Rig Count Rises by 12 in Latest Week, Baker Hughes Says
Genentech: FDA Approves Tecentriq as Adjuvant Treatment for Certain Lung Cancer Patients
FTSE 100 Index Ends the Week 1.95% Higher at 7234.03 -- Data Talk
DAX Ends the Week 2.51% Higher at 15587.36 -- Data Talk
STOXX Europe 50 Index Ends the Week 2.50% Higher at 3628.05 -- Data Talk
EURO STOXX 50 Index Ends the Week 2.69% Higher at 4182.91 -- Data Talk
CAC 40 Index Ends the Week 2.55% Higher at 6727.52 -- Data Talk
STOXX Europe 600 Index Ends the Week 2.65% Higher at 469.39 -- Data Talk
Rising Demand Just One Factor in Inflation, Supply Chain Woes
Lockheed Martin Currently Up Nine Consecutive Days, On Track for Longest Winning Streak Since October 2017 -- Data Talk
FTSE Closes Up, But Loses Strength of Morning Opening
U.S. Consumer Sentiment Decreased in Early October -University of Michigan
Leonardo Says It Didn't Supply Airbus With Components From Embattled Subcontractor -- Update
VC Daily: Question: What Makes Decentralized Finance Attractive to Investors?
Caterpillar Names First Chief Sustainability and Strategy Officer
ITA Begins Operations as Italy's New National Flag Carrier
LumiraDx Shares Rise 13% Premarket on EUA Submission to FDA
DiscoverGold Member Level  Monday, 06/07/21 03:04:52 PM
Re: None
Post # of 39765 
Clover Health Investments (CLOV) Stock's Options Pits Go Wild as Reddit Zeroes In
By: Schaeffer's Investment Research | June 7, 2021

• Many option bulls expect today's price action to hold

• Clover Health Investments has joined a fresh round of heavily shorted stocks targeted by Reddit traders

Clover Health Investments Corp (NASDAQ:CLOV) is enjoying a boost today, up 23.5% at $11.11 this afternoon, with many Reddit-based traders now targeting a fresh round of stocks with high volumes of short interest. The security is still trading well below its Jan. 4 record high of $17.45, and sports a 33% year-to-date deficit, though it's eyeing a close above its 200-day moving average for the first time since its formation in April.



The surge has sparked a melee of activity in the options pits, with 340,000 calls and 29,000 puts exchanged so far -- eight times the intraday average. The most popular is the June 11 call, followed by the 10 call in the same monthly series, with positions being opened at the former. This suggests these traders expect CLOV to maintain some of today's price action up until these contracts expire on Friday, June 18.

Calls have been quite popular lately. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), CLOV sports a 10-day call/put volume ratio of 14.06, and its Schaeffer's put/call open interest ratio (SOIR) stands at 0.21.

This sentiment isn't reflected elsewhere, though. As we mentioned earlier, CLOV is heavily shorted at the moment, with short interest rising 7.7% in the last reporting period. The 40.46 million shares sold short make up a whopping 36.1% of the stock's available float.

Analyst sentiment, meanwhile, is lukewarm. Just one of the three covering CLOV call it a "strong buy," while two say "hold." Plus, the 12-month consensus price target of $9.67 is a 13.4% discount to current levels.

Read Full Story »»»

DiscoverGold

Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences