Avalon Correctional Services Inc
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Company profile

Avalon Correctional Services, Inc. (Avalon) is a developer and operator of halfway houses in Oklahoma, Texas and Wyoming. The Company's halfway houses and local, community partners provide men and women with the skills, guidance, knowledge, and resources necessary to make the transition from incarceration to free society. The Company offers residential reentry facilities, drug courts and treatment centers, among others. It provides housing, food, counseling, training, and other services to those in its care. The Company's facilities include Austin Residential Reentry Center, Austin Transitional Center, Carver Transitional Center, Carver Center Veteran Residential Program, Cheyenne Transitional Center, Corpus Christi Transitional Center, Dallas Transitional Center, El Paso Multi-Use Facility, El Paso Transitional Center, Fort Worth Transitional Center, Turley Residential Center and Tulsa Transitional Center. The Company is a subsidiary of CCA.

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Implied Volatility Surging for Aurora Cannabis (ACB) Stock Options

7:41 am ET May 14, 2020 (Zacks) Print

Investors in Aurora Cannabis Inc. ACB need to pay close attention to the stock based on moves in the options market lately. That is because the Jun 19, 2020 $4.00 Put had some of the highest implied volatility of all equity options today.

What is Implied Volatility

Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

What do the Analysts Think?

Clearly, options traders are pricing in a big move for Aurora Cannabis shares, but what is the fundamental picture for the company? Currently, Aurora Cannabis is a Zacks Rank #3 (Hold) in the Medical - Products industry that ranks in the Top 19% of our Zacks Industry Rank. Over the last 60 days, one analyst has increased its earnings estimate for the current quarter, while none have dropped the estimate. The net effect has taken our Zacks Consensus Estimate for the current quarter from a loss of 55 cents per share to a loss of 53 cents in that period.

Given the way analysts feel about Aurora Cannabis right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.

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