|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||36.80 - 37.83|
|52 Week Range||6.35 - 52.98|
|Beta (5Y Monthly)||2.49|
|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|
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.
Vehicle rental company Hertz Global (OTCMKTS:HTZGQ) and Hertz stock is no longer traded on the New York Stock Exchange. On Oct. 29, Intercontinental Exchange (NYSE:ICE), which owns the NYSE announced, “the staff of NYSE Regulation has determined to suspend trading in the common stock of Hertz Global Holdings, Inc. (the “Company”) — ticker symbol HTZ — from the NYSE.” Source: Shutterstock The pandemic had a significant effect on a number of sectors, such as travel and leisure. The car rental sector relies heavily on air travel as many passengers rent vehicles at airports. Recent research has studied the “Impact of COVID-19 on Global Car Rental Industry and Ride and Share Transport Services.” The authors highlight, “The pandemic led to Hertz filing for bankruptcy, albeit after paying US$16 million in retention bonuses on the eve of bankruptcy to its executives. Losses led to various cost-containment measures, which saw a record number of employees being laid off and disposal of non-core assets.”InvestorPlace - Stock Market News, Stock Advice & Trading Tips Florida-based Hertz Global is more than 100 years old. Its vehicle rental brands worldwide include Hertz, Dollar and Thrifty. When a publicly-listed and well-established company like Hertz declares bankruptcy, it is not always emotionally or financially easy for shareholders to accept what that means for the common stock. Therefore, today’s article will discuss what investors in Hertz stock may expect in future months. Shareholders Have the Last Claim Not every travel or car rental company has gone bust during the pandemic. For example, Avis (NASDAQ:CAR) is up more than 12% year-to-date. 7 Retail Stocks That Will Benefit From 2020’s Holiday Shopping Season Steve Ford of Advanced Applied Project Management Solutions explains the demise of Hertz clearly: “Hertz had, in recent years, taken on more than $24 billion in debt, primarily due to corporate acquisitions and car purchases. This debt was set against a cash reserve of $1 billion… With the onset of COVID-19 … Hertz lost all revenue.. Unable to pay its creditors, Hertz filed for Chapter 11 bankruptcy protection on May 22, 2020.” We would add to this analysis that U.S. corporate bankruptcy laws determine who gets paid first. Shareholders have the last claim on assets. In most cases, they receive nothing. InvestorPlace.com contributor Mark R. Hake recently wrote about the delisting of Hertz stock and concluded, “This is an indication that Hertz stock has virtually no value and no one should be buying it… There’s nothing left for owners of HTZ stock.” Put another way, current investors in Hertz stock are not likely to get any money at the end of the bankruptcy. Earlier in the year, even billionaire investor Carl Icahn, who used to be the largest shareholder in Hertz stock, sold his holdings, representing a 39% stake in the car rental group. In the coming weeks, there could still be speculative trading with an up bias in Hertz stock. Yet, current shareholders should not get their hopes high. In fact, on Oct. 16, shares traded intraday between $1.67 and $2.86, on high volume with no apparent news or reason. Suggestions centered around algo program traders and Robinhood speculators. However, the shares are currently around $1.05. Bottom Line on Hertz Stock The recent delisting of Hertz stock was a negative development for Hertz shareholders. The group used a complex corporate structure and had extreme levels of debt, which led to insolvency during the rough months of 2020. Various negotiations and court proceedings leading to Hertz’s eventual bankruptcy will likely take more time. It is also a high-level bankruptcy, getting media attention. However, current investors in Hertz stock should appreciate that the shares will likely end up worthless. If I were a shareholder, I would sell now and get out completely. If I were a short-term trader, I would not speculate on Hertz stock. Our markets offer ample opportunities in robust asset classes or stocks both for long-term investors and short-term traders. But Hertz stock is not one of them. For example, those investors who are interested in speculative companies may consider investing in the high-yield corporate-bond market. They can use exchange-traded funds (ETFs) to buy into these junk bonds. Examples of such ETFs would include the Credit Suisse High Yield Bond Fund (NYSEARCA:DHY), the iShares iBoxx $ High Yield Corporate Bond ETF (NYSEARCA:HYG), or the SPDR Bloomberg Barclays High Yield Bond ETF (NYSEARCA:JNK). On the date of publication, Tezcan Gecgil did not have (either directly or indirectly) any positions in the securities mentioned in this article. Tezcan Gecgil has worked in investment management for more than two decades in the U.S. and U.K. In addition to formal higher education in the field including a Ph.D, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets The post As Hertz Gets Delisted, It Does Not Belong In Long-Term Portfolios appeared first on InvestorPlace.
Avis Budget saw a welcome improvement to its Relative Strength (RS) Rating on Tuesday, rising from 84 to 93. Avis stock is sitting comfortably above the 80-or-higher RS level CAN SLIM investors like to see.