Aurora Cannabis Option Alert: Fri $7 Calls Sweep (36) near the Ask: 4219 @ $0.17 vs 4704 OI; Earnings 5/15 Before Open [est] Ref=$6.7898
Portfolio Pulse from Charles Gross
A significant option activity was observed for Aurora Cannabis (ACB) with a sweep of 4219 calls at $7 for this Friday, priced at $0.17, compared to an open interest of 4704. This activity comes ahead of their earnings report, estimated to be released before the market opens on May 15th, with the stock reference price at $6.7898.
April 12, 2024 | 3:30 pm
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Aurora Cannabis sees notable options activity with calls at $7 ahead of its earnings report. This could indicate investor optimism or a speculative play on the earnings outcome.
The significant volume of call options at a strike price just above the current stock price suggests that traders are speculating on a positive earnings report or news that could lift the stock price. This speculative activity often leads to increased volatility and can push the stock price up in the short term, especially if the earnings report exceeds market expectations.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90