The Technology Services industry is currently dominated by GigaCloud Technology Inc. (GCT), which is ranked as a Zacks Rank #1 (Strong Buy) company. Despite no analysts raising their earnings estimates for the current quarter in the last 60 days, one analyst has revised the estimate downward, leading to a decrease in the Zacks Consensus Estimate from 72 cents per share to 71 cents.
Investors in GCT should closely monitor the stock based on recent moves in the options market, particularly with regards to the July 19, 2024 $10.00 Call option that had one of the highest implied volatilities of all equity options today. Implied volatility reflects the market’s expectations for future movement and high levels of implied volatility indicate that investors are anticipating a significant move in the stock price in either direction, possibly in response to an upcoming event.
Options traders often seek out options with high implied volatility to sell premium, capturing decay in the process. If you’re interested in trading options, consider exploring the approach used by Zacks Executive VP Kevin Matras to achieve recent double and triple-digit winners. These trades not only offer significant profit potential but also help reduce risk. For more recommendations from Zacks Investment Research, download our latest report: “The 7 Best Stocks for the Next 30 Days.”
