Appliance Stock Poised for Another Bounce

Core Insights - SharkNinja Inc (NYSE:SN) stock has found support in the $114-$115 range, which corresponds to its highs in 2024 and February, and has shown a year-to-date increase of approximately 20% after a pullback to the 20-day moving average, suggesting a bullish position is recommended [2] Group 1: Stock Performance and Recommendations - The stock has demonstrated a significant year-to-date lead of around 20% following a recent pullback [2] - A bullish position is being recommended based on the current support levels and stock performance [2] Group 2: Options Market Sentiment - Options traders are currently leaning bearish, with a 50-day put/call volume ratio of 1.94, indicating a potential sentiment shift that could provide tailwinds for the stock [6] - The current options are considered affordably priced, with a Schaeffer's Volatility Index (SVI) of 41% in the 14th percentile of the past year's readings, suggesting a favorable environment for options trading [7] Group 3: Potential for Short Squeeze - There is potential for a short squeeze back to the 130-strike call, as the equity has held the peak call open interest level [8] - The recommended call option has a leverage ratio of 7.64, indicating it will double on a 13.8% rise in the underlying security [8]