Twilio raised its revenue outlook yesterday
Cloud stock Twilio Inc (NYSE:TWLO) is skyrocketing to two-year highs today, up 22.4% at $138.77 at last glance. The company issued a strong revenue forecast at yesterday's investor event, drawing an upgrade to "outperform" from "neutral" at Baird. A flood of other analysts chimed in with price-target hikes as well, including Oppenheimer to $160 from $90.
Shooting past recent pressure at the $117 level, TWLO is on track for its best single-day percentage gain since May 2020. Year over year, the equity is up roughly 91%.
Options traders are blasting Twilio stock in response. So far, 40,000 calls and 18,000 puts have crossed the tape, which is already 19 times the stock's average daily options volume. The February 150 call is the most popular, followed by the weekly 1/24 150-strike call, with new positions opening at both.
Over the last two weeks, puts were picked up at their fastest pace all year at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This leaves plenty of pessimism to unwind today.