Calls Dominate First Day of Options Trading for Blue Apron Stock … – Schaeffers Research (blog)

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Less than two weeks removed from the company’s June 29 initial public offering (IPO), meal delivery service Blue Apron Holdings Inc (NYSE:APRN) options began trading today. So far, APRN options traders have shown a strong preference for calls over puts, with 1,684 of the former traded, compared to just 325 of the latter.

Most popular overall is the August 8 call, with 635 contracts traded. It’s possible buy-to-open activity is taking place here, meaning traders are betting on APRN stock extending its lead atop the $8 mark through expiration at the close on Friday, Aug. 18. 

Also seeing heavy attention is the October 10 call, with 322 contracts on the tape. Traders may be selling to open positions here, and by doing so, they’d be betting on Blue Apron stock holding below the $10 level in the coming months. Other traders may also be selling to open the July 8 call. 

It’s been a less-than-stellar start for APRN shares. After first lowering its IPO price to $10 a share, the stock went on to close lower in four of the next five sessions, hitting an all-time low of $7.36 last Friday, July 7. Today, though, Blue Apron stock is up 5.4% at $8.15 on news that FMR LLC and Capital World Investors have taken passive stakes in the food stock. JPMorgan Chase and Norges Bank have also previously taken passive stakes in Blue Apron. 

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