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Okta shares are trading lower following the company's Q1 earnings report.

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Neuphoria To Present At ASCP 2025 Annual Meeting

Box shares are trading higher after the company reported Q1 financial results and beat its adjusted EPS and revenue estimates.

As a rule of thumb, investors generally want to see positive sentiment in the options market prior to a company's earnings disclosure, which explains why some traders may be hesitant on Chewy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>). An online retailer of pet food and products, Chewy has attracted unwanted attention ahead of its June 11 earnings disclosure. At the same time, the contrast between pessimistic options trades and relatively strong fundamentals sets up an intriguing contrarian play.
Just recently, CHWY pinged Benzinga's screener for <a href="https://www.benzinga.com/insights/options/25/05/45608542/9-consumer-discretionary-stocks-with-whale-alerts-in-todays-session">unusual options activity</a> thanks to a sweep transaction involving sold calls; specifically, 1,400 contracts sold of the $42.50 call expiring July 18 of this year. A credit-based transaction, this trade assumes that by the expiration date, CHWY stock will not be trading higher than the strike price plus the premium received as income.
Further, this trade also assumes that CHWY will not materially rise higher prior to expiration. If it does, the other side (i.e. the call buyer) owns the right to exercise the option early. Thus, the call writer (seller) would fall under assignment.
It may seem like a bold bet but it also aligns with brewing skepticism against CHWY stock. Last month, CHWY's <a href="https://www.benzinga.com/insights/short-sellers/25/04/44818890/is-chewy-gaining-or-losing-market-support">short interest</a> was only 3.7% of its float, while its short interest ratio was only 1.75 days to cover. Currently, the security's short interest stands at <a href="https://www.benzinga.com/quote/CHWY/short-interest">10.3% of its float</a>, while its short interest ratio increased to 3.16 days to cover.
However, the bears are taking a huge risk. According to the APPA National Pet Owners Survey, <a href="https://www.benzinga.com/markets/penny-stocks/24/01/36842775/paws-and-prosperity-exploring-u-s-pet-services-growth-and-the-anticipated-surge-in-annual-pe">66% of U.S. households own a pet</a>. Further, millennials and Generation X represent the largest demographic groups among pet owners, indicating a growth trajectory based on their relative youth.
As such, CHYW stock presents a compelling sentiment war.
<h2 class="wp-block-heading">Market Breadth Data May Give CHWY Stock The Upper Hand</h2>
While there are many ways that options traders approach opportunities in the derivatives market, primarily, sector participants recognize the importance of probabilities. With standard investing, the focus is on the "why" of the target opportunity. With options, the focus is on the "how" — how much, how fast and most importantly, how likely.
As a baseline, CHWY stock is a difficult nut to crack because it technically features a negative bias. On any given week, the chance that a long position will be profitable is only 49.35%. Functionally, this figure is calculated by a simple rise-over-run-style equation: take the number of positive weeks divided by the total number of weeks in the dataset.
Still, it would be unfair to label CHWY stock as being a poor trade under all sentiment regimes. In other words, certain sentiment cycles may generate long-side probabilities that differ significantly from the baseline.
From a market breadth perspective, in the past two months, CHWY stock has printed an "8-2-U" sequence: eight up weeks, two down weeks, with a net positive trajectory across the 10-week period. Notably, in 57.14% of cases, the following week's price action results in upside, with a median return of 7.3%.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/27144420/CHWY-stock-10wk-forecast-1024x576.jpg" alt="" class="wp-image-928922" style="width:920px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/27144420/CHWY-stock-10wk-forecast-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/27144420/CHWY-stock-10wk-forecast-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/27144420/CHWY-stock-10wk-forecast-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/27144420/CHWY-stock-10wk-forecast.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image by author</figcaption></figure>
Should the implications of the 8-2-U sequence pan out as projected, CHWY stock could theoretically hit $47.13 (based on last Friday's close of $43.92), perhaps within a week or two. Adding to the fire, speculation ahead of the earnings report could create a buy-the-rumor, sell-the-news effect. As such, the high short interest for the bears could devolve into a <a href="https://www.benzinga.com/money/what-is-a-short-squeeze">short squeeze</a>.
Plus, market breadth data is essentially signaling that CHWY stock is no longer a statistical coin toss. Rather, it's closer to a 60/40 wager, thus favoring a debit-based options strategy.
<h2 class="wp-block-heading">An Aggressive Wager For The Contrarian</h2>
Those who want to bet against the bears and take a long-side wager on CHWY stock may consider the 45/46 bull call spread expiring June 6. This transaction involves buying the $45 call and simultaneously selling the $46 call, for a net debit paid of $47. Should CHWY rise through the short strike price at expiration, the maximum reward is $53, a payout of almost 113%.
Mainly, this trading idea is attractive because of the aforementioned market breadth sequence. Ordinarily, CHWY stock is slightly worse than a 50/50 wager. But with the response to the 8-2-U sequence, the odds shift in favor of the bulls. Throw in the possibility of a short squeeze and CHWY may have enough fuel to trigger the $46 target at expiration.
Read Next:
<a href="https://www.benzinga.com/markets/options/25/05/45574981/soun-stock-short-squeeze-bull-call-spread">Options Corner: Wall Street&#8217;s Blind Spot On SoundHound AI Sets Up A Bullish Edge</a>
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CHWY

Options Corner: A Contrarian Case Builds As Traders Short Chewy Ahead Of Earnings

Entered into Forbearance Agreement with Lender Group
Reduced Management Fees
Suspended Quarterly Distribution on Common Shares
Received Notice of Late Filing from NYSE
WESTPORT, Conn., May 27, 2025 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CODI#NYSE">CODI</a>) ("CODI") today provided an update on steps it is taking to enhance liquidity and reduce costs in the wake of its announcement that it is investigating, and has preliminarily identified irregularities in, the financing, accounting, and inventory practices at its subsidiary, Lugano Holding, Inc. ("Lugano").
CODI has taken the following actions:
<ul>
<li>Entered into a forbearance agreement with its lender group to preserve sufficient liquidity to maintain normal operations.</li>
<li>Significantly reduced management fees paid by CODI.</li>
<li>Restricted investment in Lugano, focusing resources on CODI's eight other market leading subsidiaries.</li>
<li>Suspended the quarterly cash distribution historically paid to common shareholders in order to preserve cash and protect long-term value.</li>
</ul>

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CODI

Compass Diversified Enters Forbearance Agreement, Cuts Management Fees, Suspends Quarterly Dividend, And Receives NYSE Late Filing Notice Amid Investigation Into Financial Irregularities At Subsidiary Lugano Holding

The J.M. Smucker Co. To Close Indianapolis Manufacturing Plant As Part Of Ongoing Sweet Baked Snacks Segment Optimization

flyExclusive, Inc. (NYSEAMERICAN: FLYX) ("flyExclusive" or the "Company"), a leading provider of premium private jet experiences, today announced that it has been listed on the May 23, 2025 preliminary inclusion list for the 2025 Russell Indexes, including the Russell 3000&#xAE;, Russell 2000&#xAE;, and Russell Microcap&#xAE; Indexes, pending final review and reconstitution after markets close on June 28, 2025.

FLYX

flyExclusive Announces That It Has Been Listed On The May 23, 2025 Preliminary Inclusion List For The 2025 Russell Indexes, Including The Russell 3000, Russell 2000, And Russell Microcap Indexes, Pending Final Review And Reconstitution After Markets Close On June 28, 2025

NVAX

Novavax Eliminates Position Of COO And Terminates John Trizzino; Trizzino To Continue To Provide Consulting Services

Senstar Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNT#NASDAQ">SNT</a>) reported quarterly earnings of $0.04 per share. This is a 233.33 percent increase over losses of $(0.03) per share from the same period last year. The company reported $8.45 million in sales this quarter. This is a 12.48 percent increase over sales of $7.51 million the same period last year.

Senstar Tech Q1 EPS $0.04 Up From $(0.03) YoY, Sales $8.45M Up From $7.51M YoY

MGP Ingredients, Inc. (NASDAQ:<a href="https://www.benzinga.com/stock/MGPI#NASDAQ">MGPI</a>), a leading provider of branded and distilled spirits and food ingredient solutions, announced that Martin Roper has been elected Chairman of the Board effective May 22, 2025.
Martin Roper joined the MGP Board of Directors in April 2025 and brings more than 25 years of beverage industry experience, including nearly two decades as CEO of The Boston Beer Company and his current position as CEO of The Vita Coco Company.

MGPI

MGP Ingredients Announces That Martin Roper Has Been Elected Chairman Of The Board Effective May 22, 2025.

Earnings Beats

SMTC

Semtech Q1 Adj. EPS $0.38 Beats $0.37 Estimate, Sales $251.10M Beat $250.09M Estimate

CPIX

Cumberland Pharmaceuticals Publishes Study Investigating Caldolor In Older Patients

Joby Aviation, Inc. ((Joby, NYSE:<a href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>), a company developing electric air taxis for commercial passenger service, announced the successful closing of the first $250 million tranche of a previously announced strategic investment from Toyota Motor Corporation. The funding marks a significant milestone in strengthening the long-term collaboration between the two companies and supports their shared vision for the future of air mobility.
The investment is aimed at supporting certification and commercial production of Joby's electric air taxi. This underscores the mutual commitment to deepening integration and delivering next generation travel to global markets. This investment also puts the two companies a step closer toward a strategic manufacturing alliance.

JOBY

Joby Aviation Announces The Closing Of The First $250M Tranche Of A Previously Announced Strategic Investment From Toyota Motor Corp

Global Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) announces with deep sadness the passing of Richard Slifka, Chairman of the Board of Directors of the Partnership's general partner, Global GP LLC. Mr. Slifka passed away on May 25, 2025, at the age of 85.
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Global Partners LP Announces The Passing Of Board Chairman Richard Slifka

Vail Resorts Chairperson Rob Katz Appointed CEO; Succeeds Kirsten Lynch

Box (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) reported quarterly earnings of $0.30 per share which beat the analyst consensus estimate of $0.26 by 15.38 percent. This is a 23.08 percent decrease over earnings of $0.39 per share from the same period last year. The company reported quarterly sales of $276.00 million which beat the analyst consensus estimate of $274.80 million by 0.44 percent. This is a 4.29 percent increase over sales of $264.66 million the same period last year.

Box Q1 Adj. EPS $0.30 Beats $0.26 Estimate, Sales $276.00M Beat $274.80M Estimate

TeraWulf Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>) ("TeraWulf" or the "Company"), which owns and operates vertically integrated, next-generation digital infrastructure primarily powered by zero-carbon energy, announced today the acquisition of 100% of the membership interests of Beowulf Electricity &amp; Data LLC and its affiliates (collectively, "Beowulf E&amp;D"). The strategic transaction simplifies TeraWulf's corporate structure and eliminates a related-party relationship consolidating resources under a unified operating framework.
Transaction Overview
The total consideration for the transaction is approximately $52.4 million, consisting of $3 million in cash and 5 million shares of TeraWulf common stock issued at closing. The agreement also includes up to $19 million in contingent cash payments and up to $13 million in additional common stock, subject to the achievement of key milestones related to the expansion of TeraWulf's data center business and project financing initiative. As part of the acquisition, 94 employees from Beowulf E&amp;D – including Lake Mariner site staff and corporate support personnel – have transitioned to TeraWulf employment. In addition, the existing services agreement with Beowulf E&amp;D, which had included substantial ongoing payments, has been terminated in conjunction with the closing. The Company's previously announced 2025 cost guidance, including SG&amp;A expenses of $40-$45 million and operating expenses of $20-$25 million, remains unchanged following the acquisition.

WULF

TeraWulf Acquires Beowulf Electricity & Data For About $52.4M

ELMD

Electromed To Join Russell 2000 And Russell 3000 Indexes

Okta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) is looking for Q2 Adj EPS of $0.83-$0.84. sees sales of $710.000 million-$712.000 million.

Guidance

Okta Sees Q2 Adj EPS $0.83-$0.84; Sees Sales $710.000M-$712.000M

Firehouse Subs Brand And Foodplay To Enter Into A Development Agreement To Develop And Grow Firehouse Subs In Mexico, With Plans To Open 100 Restaurants In Monterrey And Other Major Cities In The Next Five Years
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Press Releases

Audacy Reports Second Quarter Results

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Ultime notizie per Audacy Inc (OTC:AUDAQ) Azioni

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