Farfetch Option Alert: Oct 20 $8 Calls Sweep (13) near the Ask: 2088 @ $0.47 vs 885 OI; Earnings 8/24 After Close [est] Ref=$6.2192
Portfolio Pulse from Charles Gross
There has been a significant increase in the number of call options for Farfetch (FTCH) with a strike price of $8 expiring on October 20. The number of these options bought at or near the ask price has risen to 2088, compared to an open interest of 885. Farfetch is expected to announce its earnings on August 24 after market close.
June 30, 2023 | 3:05 pm
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The surge in call options indicates that investors are expecting Farfetch's stock price to rise above $8 by October 20. This could be influenced by the upcoming earnings announcement.
The increase in call options suggests that investors are bullish on Farfetch, expecting the stock price to rise. The upcoming earnings announcement could be a significant factor influencing this expectation, as positive earnings results could drive the stock price up.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100