Support.com Momentum Sticks, Pushing on "Meme" Status

Support.com Momentum Sticks, Pushing on "Meme" Status

1:15PM ET; Friday, AUG. 27

I know, friends and fishes; we just wrote about Support.com (SPRT) this morning. Two separate articles on the Unusual Whales (yep, two of 'em) to discuss the Unusual Options activity for SPRT, and the push it made to over $54 in pre-market trading. However, the flow and the momentum keep pushing; so we're here to keep tabs!

Throughout the morning, immense call sweeps kept rolling in on the ask side as SPRT climbed higher and higher. In fact, by midday, SPRT had already shattered that Pre-Market number, reaching a morning high of $57.50. The image below from the Unusual Whales flow tool demonstrates a massive expectation of more upward momentum.

For instance, take a peek at these orders that came in over the lunch hour. Over $1.6m in premium came in at the exact. same. time.

Six massive orders on the $20 call strike for 10/15, all placed in tandem, on the ask side. This shows the urgency felt by the whale that they expect SPRT to keep running. And it doesn't appear that this whale was alone. Because the flow keeps coming.

Orders are heavily concentrated on the September 17 and October 15 strike dates, on in the money strikes (namely $9c and $20c). The frenzy of buying and shouts of short squeezes gives SPRT the spotlight. For now, the flow remains immensely bullish, and the hype seems to be holding. Now I'm wondering if we may see a fourth Unusual Whales blog about SPRT....