Beyond Meat Option Alert: Feb 16 $11 Calls Sweep (11) near the Ask: 295 @ $1.694 vs 199 OI; Ref=$10.755
Portfolio Pulse from Charles Gross
There was a notable options trade for Beyond Meat, where an investor purchased 295 call options with a strike price of $11, expiring on February 16. The options were bought near the ask price at $1.694 each, compared to an open interest of 199, indicating new positioning. The stock reference price at the time was $10.755.
December 12, 2023 | 3:27 pm
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The purchase of a large number of call options could indicate bullish sentiment from investors, expecting Beyond Meat's stock price to rise above the $11 strike price by the expiration date.
The trade exceeds the current open interest, which suggests new interest in these options. This could be interpreted by the market as a positive signal, potentially leading to a short-term increase in investor confidence and a rise in the stock price. However, options activity is just one of many factors that can affect stock prices.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80