Bearish flow noted in Ringcentral with 2,330 puts trading, or 5x expected. Most active are May-23 25 puts and May-23 30 puts, with total volume in those strikes near 2,200 contracts. The Put/Call Ratio is 9.47, while ATM IV is up over 1 point on the day. Earnings are expected on May 9th.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on RNG:
- Ringcentral call volume above normal and directionally bullish
- Jefferies tech/communications analyst holds analyst/industry conference call
- RingCentral initiated with a Buy at Rosenblatt
- RingCentral downgraded to Perform from Outperform at Oppenheimer
- RingCentral price target lowered to $45 from $50 at Jefferies