Options Bulls Blast Soaring BlackBerry Stock After Earnings

Group 1 - BlackBerry Ltd's stock has increased by 20.6% to $5.22 following strong first-quarter results and an uplift in annual revenue forecast [1] - The stock has moved out of penny stock territory for the first time since reaching a two-year peak of $6.24 in February, with a year-to-date increase of 34% [2] - Call options trading has surged, with 64,000 calls exchanged compared to 7,609 puts, indicating strong bullish sentiment [3] Group 2 - Analysts are likely to revise their ratings, with four out of five brokerages currently holding "hold" ratings and a consensus 12-month price target of $4.45, which is an 11.1% discount to the current price [4] - Short interest has increased over the past month, now representing 5.9% of the stock's available float, suggesting that some of the recent price movement may be due to short covering [4]