Amer Sports (AS) Surges 5.24%: What’s Driving This Explosive Move?

Summary
• Amer Sports (AS) rockets 5.24% to $38.425, breaking above its 30-day moving average of $38.10
• Intraday high of $38.47 and low of $36.83 highlight volatile session
• Secondary offering by FountainVest Partners priced at $37.20 per share, closing May 30

The stock’s sharp rebound has outperformed a weak consumer discretionary sector, driven by a secondary offering and speculative positioning ahead of August earnings. With a 5.24% gain in a single session, traders are recalibrating risk-on bets amid a broader market rally on Fed rate-cut expectations.

Secondary Offering Sparks Institutional Optimism
Amer Sports’ explosive move stems from the May 30 secondary offering by FountainVest Partners, which priced 35 million shares at $37.20. While the company itself did not raise capital, the offering signaled strong institutional demand, stabilizing the stock post-issuance. The $37.20 price point became a psychological support, with buyers stepping in aggressively as the stock tested this level intraday. Additionally, the broader market’s shift toward consumer discretionary names—fueled by 73,000 nonfarm payrolls and 80%+ probability of a September rate cut—catalyzed a short-covering rally in AS.

Consumer Discretionary Sector Mixed as Leisure Leaders Lag
The Leisure Products sector, where AS operates, has underperformed its peers in 2025. YETI Holdings (YETI), the sector’s top performer, gained 3.23% intraday, trailing AS’s 5.24% surge. While AS’s rally is tied to structural supply-demand dynamics from the secondary, leisure stocks like MODG (Topgolf) and GES (Guess) also rose 3.3–4.8% on macro optimism. However, AS’s outperformance highlights its unique catalyst, contrasting with broader sector caution amid weak consumer confidence data.

Call Options and ETFs for High-Volatility Play
• 200-day MA: $29.05 (below) | RSI: 35.5 (oversold) | MACD: 0.118 (bullish divergence)
• Bollinger Bands: $36.63–$39.75 (current price within range) | 30D support: $37.62–$37.68

Top Options:
• AS20250919C40 (Call, $40 strike, 2025-09-19): IV 52.45%, leverage 16.70%, delta 0.46, theta -0.0445, gamma 0.0549, turnover $19,254
• AS20250919C45 (Call, $45 strike, 2025-09-19): IV 50.84%, leverage 45.20%, delta 0.228, theta -0.0296, gamma 0.0431, turnover $8,384

AS20250919C40 offers a balance of moderate delta and high gamma, ideal for a 5% upside scenario where payoff reaches $0.42 per share. AS20250919C45, with lower delta but high leverage, rewards aggressive bulls if AS breaks above $45. Both options benefit from positive gamma, amplifying gains as the stock rises. With RSI at oversold levels and Bollinger Bands tightening, a breakout above $38.47 could trigger a rally toward $40.21 (52W high).

Aggressive bulls: Buy AS20250919C40 into a $38.50+ breakout.

Backtest Amer Sports Stock Performance
The backtest of AS performance after a 5% intraday surge shows no impact on the entire market, with the maximum return being 0.10% on the maximum return day. This suggests that such a surge does not consistently lead to further gains in the short term.

Position for a Breakout or Reversal—Act Now
Amer Sports’ 5.24% surge is a short-term technical breakout with potential to test $40.21, its 52-week high. The 30-day support at $37.62 and 200-day MA at $29.05 suggest a bullish bias, but watch for a pullback to $36.63 (lower Bollinger Band) to validate momentum. Meanwhile, YETI’s 3.23% gain underscores sector rotation into leisure. If AS holds above $38.10, buy AS20250919C40 for leveraged exposure. Watch $38.47—a break above could signal a trend reversal.