of about 11% [in either direction]," Optimize Advisors CIO Michael Khouw said Tuesday on "Fast Money."
That would be quite a move for Lyft to make between its report after the bell on Wednesday and Friday's close, but over the last eight quarters, the stock has averaged a move of about 10% in either direction after reporting. Tuesday's options activity was firmly in the bearish camp, as far as which way that implied move will shake out.
"The most active options were the 30-strike puts, the ones that expire at the end of this week," said Khouw. "Over 2,500 of those traded for about $1.35, so buyers of those puts are betting that there could be additional pressure on the stock following earnings by the end of the week." Those contracts break even about 8.5% lower than where Lyft closed Tuesday's session, leaving plenty of room for profitability even if Lyft moves slightly less than what the options market is implying.
Lyft reports dramatic revenue drop of 61% but points to uptick in rides in July
Couldn't make the Lyft, do the U.
37$ AH...
Glad I just cut my losses and got rid of it
Options on $RKT open today
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