Home MarketsOptions Beyond Meat Stock Blasted by Options Players Amid Rally Attempt

Beyond Meat Stock Blasted by Options Players Amid Rally Attempt

by OptionsGal
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Puts are popular in Beyond Meat today

Beyond Meat (NASDAQ) It’s been on a chopping block lately.among the broader market inflation problemcalling report food safety issues With several executives stepping down at the Pennsylvania factory, the former Wall Street favorite now has his fair share of hurdles to overcome. Unsurprisingly, the stock has fallen to record lows near $11.50 several times over the past few months. On the other hand, both the $17.50 levels and the 80-day moving average are looming high as potential resistance levels.

However, the stock has risen along with the rest of the market today – it was last seen up 5.8% to $16.50. The Forbes article may have fueled some of the positive price action.Forbes reported that the company hopes to make a comeback with Beyond Steak products. The Beyond Steak has chosen to withhold actual revenue targets for sales.

Regardless of the driving force behind today’s price action, options players are in a daze. So far, 33,000 calls and 38,000 puts have been exchanged, double his intraday average. The most popular position is his 10 strike put in February 2023, followed by his 7.50 strike put in the same monthly series. Positions are sold in both.

If you look at it from a wider perspective, you can see that calls are very popular. The International Stock Exchange (ISE), Cboe Options Exchange (CBOE) and NASDAQ OMX PHLX (PHLX) have a 10-day call/put volume ratio of 1.87, above the 81% reading over the past year. . .

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