|Bid||39.70 x 1000|
|Ask||39.73 x 800|
|Day's Range||38.67 - 40.66|
|52 Week Range||6.35 - 52.98|
|Beta (5Y Monthly)||2.31|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 17, 2021 - Feb 22, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Feb 23, 2006|
|1y Target Est||41.17|
Investors and traders, it’s time to override your emotions and get cautious on the stock market. For subscribers of my stock letter, Brush Up on Stocks (link in bio, below), I regularly track a dozen sentiment indicators. This makes the market vulnerable to a pullback.
(Bloomberg) -- Car-sharing startup Turo Inc. is returning to New York, seven years after leaving the state that was once its biggest market over a dispute with regulators about insurance rules.Turo, which allows vehicle owners to put their personal cars up for daily rentals through its website and smartphone app, aims to compete with traditional offerings from Avis Budget Group Inc., Hertz Global Holdings Inc. and Enterprise Holdings Inc.Starting in January, Turo will allow listings in New York, but only from those users in its commercial host program, which is designed for independent rental companies who provide their own insurance. These companies must also be registered with the state.Turo will also be allowed to advertise its platform in New York for the first time since 2013, when it suspended operations there because the New York Department of Financial Services said it was not complying with state insurance laws. In 2014 the state fined the company, which was then known as RelayRides, $200,000 for false advertising, unlicensed insurance activity and other violations.”Frankly this couldn’t come at a better time,” Turo Chief Executive Officer Andre Haddad said in an interview with Bloomberg Television. “Subway ridership is down, ride-sharing is down. Many consumers want the safety of a private space of a car and frankly New Yorkers are really saddled with the worst traditional car rental experience in the country”New York once accounted for 20% of its revenue, and the 11-year-old startup has sought to return to the state ever since it left. But the deal it struck is only a partial victory, because it won’t allow the core of Turo’s business--enabling private car owners to rent out their vehicles.Read More: Car-Sharing Companies Offer a Less Germ-Infested Route ForwardThe peer-to-peer rental industry has been lobbying state legislatures for rules that make it easier to operate, often pitting itself against traditional car rental companies. New York, whose insurance rules don’t allow the commercial use of privately-owned vehicles, remains one of the least hospitable states.Getaround, Turo’s main rival in peer-to-peer car sharing, already operates in New York, saying it requires vehicle owners to carry commercial insurance. A spokesperson for the state’s DFS said Getaround doesn’t have authority to operate car-sharing between private individuals, and confirmed the terms of the agreement with Turo.Haddad said Turo will continue to work with regulators and state officials in the hopes that they will be able to expand to peer-to-peer car sharing soon. Turo and Getaround have been pushing the legislature to adopt new rules that would allow it to provide insurance directly to consumers.The partial return to New York is another significant development in a chaotic year for Turo. Coronavirus hit it hard this spring. It made steep job cuts and took $5 million through the U.S. Paycheck Protection Program after its second-quarter revenue dropped 25% compared with the year before. Turo has raised about $500 million to date from private investors including IAC/InterActiveCorp., Daimler AG and Manhattan Venture Partners.But car-sharing has since bounced back. Turo has recorded $110 million of revenue so far this year, and is projecting that 2020 will be its best year ever in terms of total sales.(Updates fifth paragraph with comment from CEO)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
On Monday, shares of Avis Budget Gr (NASDAQ: CAR) saw unusual options activity. After the option alert, the stock price moved up to $39.67. * Sentiment: BEARISH * Option Type: SWEEP * Trade Type: CALL * Expiration Date: 2021-01-15 * Strike Price: $38.00 * Volume: 0 * Open Interest: 1336Three Indications Of Unusual Options Activity Exceptionally large volume (compared to historical averages) is one reason for which options market activity can be considered unusual. The volume of options activity refers to the number of contracts traded over a given time period. Open interest is the number of unsettled contracts that have been traded but not yet closed by either counterparty. In other words, open interest represents the quantity of contracts that individual parties have written but not yet found a counterparty for (i.e. a buyer finding a seller, or a seller finding a buyer).The trading of a contract with an expiration date in the distant future is another sign of unusual activity. Generally, additional time until a contract expires increases the potential for it to reach its strike price and grow its time value. Time value is important in this context because it represents the difference between the strike price and the value of the underlying asset.Contracts with a strike price far from the underlying price are also considered unusual because they are defined as being "out of the money". This occurs when the underlying price is under the strike price on a call option, or above the strike price on a put option. These trades are made because the underlying asset value is expected to change dramatically in the future, and the buyer or seller can take advantage of a greater profit margin.Understanding Sentiment Options are "bullish" when a call is purchased at/near ask price or a put is sold at/near bid price. Options are "bearish" when a call is sold at/near bid price or a put is bought at/near ask price.Although the activity is suggestive of these strategies, these observations are made without knowing the investor's true intentions when purchasing these options contracts. An observer cannot be sure if the bettor is playing the contract outright or if they're hedging a large underlying position in a common stock. For the latter case, the exposure a large investor has on their short position in common stock may be more meaningful than bullish options activity.Using These Strategies To Trade Options Unusual options activity is an advantageous strategy that may greatly reward an investor if they are highly skilled, but for the less experienced trader, it should remain as another tool to make an educated investment decision while taking other observations into account.For more information to understand options alerts, visit https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alertsSee more from Benzinga * Click here for options trades from Benzinga * Unusual Options Activity Insight: Nikola * Unusual Options Activity Insight: KalVista Pharmaceuticals(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.