Affirm Holdings $AFRM Stock Big Drop As Short Sellers Target

  • Post category:Options Trading
  • Reading time:4 mins read
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Affirm Holdings $AFRM stock fell -5.3% on November 3, 2022, as the money flow plunged and the MACD rolled over.

Bearish Option Flow Detected In Affirm $AFRM Stock

Bearish option flow occurred in Affirm $AFRM stock on November 3, 2022.

Affirm option flow on November 3, 2022, in a table with the text TIME SYMBOL EXP STRIKE C/P SPOT DETAILS TYPE VALUE 12:54:34 AFRM 11/04/22 16.5 PUT 16.74 586@0.39_AA SWEEP $22.9K 12:40:25 AFRM 11/18/22 15 PUT 16.88 629@131_A SWEEP S82.4K 10:47:11 AFRM 11/11/22 18 PUT 17.07 492@252_A BLOCK $124K 9:51:13 AFRM 01/20/23 7.5 PUT 17.22 500@035_A BLOCK S17.5K 735:23 AFRM 11/04/22 18 PUT 17.00 150@121_A SWEEP $18.2K 7:21:25 AFRM 12/16/22 10 PUT 16.87 452@0.48_A SWEEP $21.7K 7:00:42 AFRM 01/20/23 10 PUT 16.93 200@0.78 A BLOCK S15.6K

Make sure to review this lesson on option flow so that you understand the image above.

In particular, the December 16, 2022, $10 PUT has open interest fading higher.

Affirm AFRM $10 PUT with a December 16, 2022 expiration date is having open interest trend higher as shown in a rising barchart.

Newegg Brings Affirm’s Flexible Payment Options to Canada

On November 1, 2022, Newegg Commerce and Affirm announced that they are working together to bring payment flexibility and transparency to customers in Canada. Newegg is now partnering with Affirm, a payments’ platform that allows eligible customers to pay for their purchases over time. Newegg started offering Affirm to its US customers in 2021.

Affirm price target lowered at Deutsche Bank

On October 28, 2022, Deutsche Bank analyst Bryan Keane cut Affirm’s price target to $22 and left the stock with a Hold rating. Keane tells investors in a research note that although there is a chance that Affirms stock price will go up soon, investors are more likely to focus on credit trends and the path to profitability for Affirm. If economic conditions continue to get worse, the analyst believes volume growth might be negatively affected.

Wedbush says sell Affirm

Affirm Holdings $AFRM Stock Technical Analysis

Affirm Holdings $AFRM stock is in a technical strong downtrend. Long-term indicators suggest a continuation of the downtrend.

AFRM stock chart on November 3, 2022, in a downtrend channel chart pattern with a neutral MACD and a very negative money flow.
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