Groupon’s direction has been mostly south since its initial public offering in November. It pushed over $14 early yesterday, but then returned to its downward trajectory and finished with a 3.47 percent drop to $13.08, its lowest close yet.
The company connects merchants to consumers by offering goods and services at a discount through coupons purchased online. Its G-Pass service is designed to allow customers to bypass box-office lines and head straight for the entrance of events such as concerts, games, and shows.
Groupon’s next earnings results will be released on May 14.
Overall calls in Groupon outnumbered puts by 20,000 to 12,000, a reflection of yesterday's bullish sentiment. Total option volume was twice its average amount.
(A version of this post appeared on InsideOptions Pro Wednesday.)
—Najarian has no positions in GRPN.
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Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC’s “Fast Money” and co-founder of OptionMonster.com.