4 Post-Earnings Losers Drawing Unusual Options Volume

Several stocks are seeing unusual options activity following their latest earnings reports, with Hims & Hers Health Inc (NYSE:HIMS), GeneDx Holdings Corp (NASDAQ:WGS), Groupon Inc (NASDAQ:GRPN), and Digital Turbine Inc (NASDAQ:APPS) all suffering double-digit losses today. Options traders are largely taking a bearish stance amid the selloffs.

HIMS stock is plunging 19.3% to trade at $18.52, after the telehealth company reported a surprise third-quarter loss and lowered its revenue outlook. So far, 205,942 options have changed hands, or 2.5 times the usual intraday volume. Sentiment is bearish, with negative net option delta volume of roughly 489,000 shares.

WGS is down 16.8% at $54.68, despite reporting better-than-expected adjusted earnings and revenue, as a disappointing fourth-quarter outlook and a price-target cut from BTIG weigh on the shares. Options volume is running at 7.8 times the average intraday pace, with 14,941 contracts exchanged and negative net option delta volume of roughly 57,000 shares.

GRPN is tumbling 25.1% to trade at $12.18, after the online marketplace missed third-quarter earnings and revenue expectations. The company posted a loss of 3 cents per share, wider than the 1-cent loss analysts anticipated. So far, 30,443 contracts have crossed the tape, or five times the typical intraday amount.

APPS is suffering the steepest drop of the group, down 35.1% at $7.34. Despite beating quarterly earnings and revenue estimates, the company's flat EBITDA outlook and weaker margins are weighing on shares. Options traders are taking a contrarian stance, however, with positive net option delta volume of roughly 10,000 shares. Volume is at roughly 28,176 contracts exchanged so far.