Turtle Beach Option Alert: Aug 18 $12 Calls at the Ask: 1000 @ $1.2 vs 7005 OI; Ref=$11.39
Portfolio Pulse from Charles Gross
Turtle Beach (HEAR) sees a surge in Aug 18 $12 call options at the ask price, with 1000 contracts traded at $1.2, compared to 7005 open interest; stock reference price at $11.39.
May 24, 2023 | 3:21 pm
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Increased activity in Turtle Beach's Aug 18 $12 call options may indicate bullish sentiment, potentially driving the stock price higher in the short term.
The surge in call options trading at the ask price indicates that investors are expecting the stock price to rise above $12 by the expiration date. This bullish sentiment could drive the stock price higher in the short term, as more investors may follow the trend and buy the stock or options.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100