Roku Option Alert: Jan 19 $140 Calls Sweep (20) near the Ask: 320 @ $1.351 vs 454 OI; Ref=$72.45
Portfolio Pulse from Charles Gross
A significant number of call options for Roku (ROKU) with a strike price of $140, expiring on January 19, were purchased near the ask price. The volume of these options was 320, compared to an open interest of 454. The reference price for ROKU at the time was $72.45.
July 26, 2023 | 2:15 pm
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The purchase of a large volume of call options indicates that investors are expecting the price of ROKU to rise significantly above $140 by January 19. This could potentially drive the stock price up in the short term.
The purchase of call options is a bullish signal, indicating that investors expect the price of the underlying stock to rise. In this case, the strike price of $140 is significantly higher than the current price of $72.45, suggesting that investors are expecting a substantial price increase. This could potentially create a self-fulfilling prophecy, driving the stock price up in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100