Is the Options Market Predicting a Spike in Opera (OPRA) Stock?

Core Viewpoint - Investors in Opera Limited (OPRA) should closely monitor the stock due to significant movements in the options market, particularly the high implied volatility of the Jun 21, 2024 $2.50 Call option [1] Group 1: Implied Volatility - Implied volatility indicates the market's expectations for future price movements, with high levels suggesting potential significant price changes or upcoming events that could lead to a rally or sell-off [2] - The current high implied volatility for Opera shares may signal a developing trading opportunity, as options traders often seek to sell premium on such options to capture decay [4] Group 2: Analyst Sentiment - Opera holds a Zacks Rank 2 (Buy) in the Internet – Content industry, which is in the top 37% of the Zacks Industry Rank [3] - Over the past 60 days, no analysts have raised their earnings estimates for the current quarter, while one has lowered the estimate, resulting in a decrease in the Zacks Consensus Estimate from 18 cents to 17 cents per share [3]