Gogo calls active as shares tick higher ahead of earnings
Gogo calls active as shares tick higher ahead of earnings. The stock up 4.2% to $4.27 and 2.5K Feb 22nd 4.5 calls bought for 24c. 3.7K trade total and the call buying will create the second largest open interest in the name (second to the 5.3K open at the Jan 5 put strike). Beyond that, the flow in Gogo has been small lots. Feb 22nd 4 and 5 strike calls are the next most actives. Total volume is 3X daily average at 5.5K calls and 280 puts. The company is due to release results before the bell tomorrow and the Feb 22nd ATM straddle, which expires the day after the report, equals 17% of spot ahead of the report: that's hefty (compares to average daily post-earnings moves of 11% through 2017 - 2018), but not as big as the Gogo's 26.3% spike on 11/6/18 after the last report.