Options News
$GENI call prices double
Genius Sports Ltd (GENI) bulls are scoring big profits in upside call positions today. On Aug. 25, Market Rebellion’s Unusual Activity programs detected the the purchase 5,400 September $22.50 calls for $0.43 to $0.60 with shares at $18.97. Open interest in the contract before the trade occurred was just 1,008, showing that this was a new position. […]
On Aug. 25, Market Rebellion’s Unusual Activity programs detected the the purchase 5,400 September $22.50 calls for $0.43 to $0.60 with shares at $18.97. Open interest in the contract before the trade occurred was just 1,008, showing that this was a new position.
Those calls traded up to $1.45 today, at least 2 times their purchase prices. The stock rose 14.65% at the same time, showing how quickly options can far outpace their underlying shares.
Long calls lock in the price where investors can buy a stock, letting them position for a rally at limited cost with the potential for significant leverage. They carry less risk than owning shares because the most that can be lost is the price of the options no matter how far the stock might fall.
GENI was up 0.76% to close at $21.30 this session The sports data and technology company announced a new strategic relationship with Caesars (CZR) this morning.