Options traders bet on even more pain for Lyft after earnings

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

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves after hours: Lyft, Uber, Occidental Petroleum and moreCheck out the companies making headlines after the bell on Monday.
Source: CNBC - 🏆 12. / 72 Read more »

Uber, Lyft must classify drivers as employees, CA court rules - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. it's over. Never even thought that it could happen in the US. So much for the so called free market Are we becoming communists
Source: BusinessInsider - 🏆 729. / 51 Read more »

After Uber reports plummeting rides, traders look ahead to Lyft earningsUber's stock plummeted after it reported a steep drop in gross ride bookings in its recent quarter. But it more than doubled bookings in its Eats business. Lyft, which will be reporting Thursday, does not have that degree of diversity in its portfolio.
Source: CNBC - 🏆 12. / 72 Read more »