Put sellers see limited downside in GoPro in next six months
Put sellers in GoPro (GPRO) expect limited downside in the stock over the next six months based on options activity first reported on by OptionMonster. An unusually high number of July 9 puts were sold on the stock on Wednesday, as well as a high number of February 8 puts. Since short puts lock in a price where investors must buy the stock, the unusually high put selling suggests that option traders expect GPRO, which is currently trading at $8.81 will find support and trend higher through the first half of 2017.
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About GoPro Inc.
GoPro Inc is a United States-based company that is principally engaged in designing and providing cameras, mounts, drones and appliances. The company outsources a part of manufacturing to third parties in China. The company sells products across the world through its direct sales channel, which generates over half of total revenue, and indirectly through its distribution channel. The company has presence, including in the Americas, Europe, Middle East, Africa, and Asia-Pacific, with the Americas contributing over half of total revenue.