DECK Sees $407K Bullish Call Spread with 16.1% One-Hour Gain—Is the Stock Set for a Short-Term Breakout?
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High-Volume Call Spread Trade on DECK: Fast Profit as Stock Pops 1.6%
On December 8, 2025, a high-volume call spread was executed on Deckers Outdoor (DECK), catching attention for its size and the speed with which it generated returns. Within less than an hour, the spread delivered a 16.1% gain, benefiting from a $1.57 jump in the underlying stock price. The scale of this options trade suggests significant conviction in DECK’s near-term prospects, prompting a deeper look at what could be driving this move.
Key Trade Details: Over $407K Committed for Potential $313K Reward
Here’s how the numbers stack up for this eye-catching options trade:
| Option Expiration | Strikes (Call Spread) | Contracts | Days to Expiration | VWAP Trade Price | Bid Price | Ask Price | Reference Stock Price |
|---|---|---|---|---|---|---|---|
| 12-Dec-25 | 96-100 | 3,600 | 4 | 2.26 | 1.97 | 2.83 | 99.20 |
The call spread, which traded at a VWAP of $2.26, increased to $2.63 by 10:30 a.m., giving buyers a $0.36 profit per contract, or roughly $129,600 in under an hour. Total premium spent was over $407,000, aiming for a potential maximum gain of about $313,000—if DECK finishes above $100 at expiration. See this link for more details and analyzer tools.
Technical Indicators Flash Fast Bullish Crossover as Stock Climbs
The bullish nature of the call spread aligns with several notable technical signals. DECK’s stock price currently stands at $100.77, having climbed 1.07% on the day, and is up 1.3% from the open. The 20-day and 50-day moving averages trail behind, while a "Fast Bullish Crossover" indicator has been triggered, suggesting upward momentum. The stock is also 27.7% above its 52-week low—though it’s still down a striking 49.9% from the 52-week high.
| Metric | Value |
|---|---|
| Stock Price | 100.77 |
| 20-Day Moving Average | 86.36 |
| 50-Day Moving Average | 91.49 |
| 250-Day Moving Average | 125.20 |
| % Above 20-Day Avg | 16.7% |
| % Above 50-Day Avg | 10.2% |
| % Below 250-Day Avg | -19.5% |
The breakout above near-term resistance of $102.15 could spark more momentum. Meanwhile, DECK remains vulnerable if it falls below the support level of $97.25.
Short-Term Outperformance Versus SPY Masks Longer-Term Struggles
While DECK’s recent move looks strong—outpacing the SPY index by a wide margin over the last two weeks and month—the stock has lagged the S&P 500 over the past year. This suggests short-term momentum, but a challenging longer-term picture. Here’s how performance stacks up:
| Duration | DECK Return | SPY Return |
|---|---|---|
| Today | +0.9% | -0.2% |
| 2 Weeks | +18.2% | +3.9% |
| 1 Month | +23.0% | +1.0% |
| 3 Months | -16.4% | +6.1% |
| 6 Months | -7.1% | +16.1% |
| 1 Year | -49.9% | +14.1% |
| YTD | -50.5% | +17.7% |
| 3 Years | +60.1% | +76.5% |
| 5 Years | +109.2% | +93.9% |
Options Skew Indicator Suggests Slightly Bullish Sentiment
The proprietary 30-day implied volatility skew indicator (currently at the 68% bullish rank) reinforces a slight bullish edge, echoing the rationale behind the recent call spread. Historically, readings above the mid-50% mark tend to align with upward price movement, indicating that option markets are leaning more optimistic than bearish for the near term.
Bottom Line: Bullish Bet Backed by Momentum, But Caution on Longer Horizons
This large, targeted call spread on DECK is both a statement of near-term conviction and a high-risk/high-reward setup. Buyers stand to profit only if the stock closes above $100 at expiration—a level it has only recently reclaimed. While technical and options-based indicators suggest a slightly bullish edge in the short run, longer-term investors should weigh the ongoing underperformance relative to the S&P 500. To dig into more call spread strategies or explore similar multi-leg trades, visit the multi-leg trade screener on Market Chameleon.
The question remains: Will the fast gains in this call spread turn into sustained bullish momentum, or will DECK’s history of volatility reassert itself after this expiration?
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