Options Traders Are Betting This Major Chinese Online Retailer Will Surge By March 2024
Portfolio Pulse from Priya Nigam
PDD Holdings Inc. (NASDAQ:PDD) shares rose sharply following the release of its Q2 results, with revenue growth of 66% YoY to $7.21 billion, beating the consensus of $6.07 billion. Options traders are betting on a further surge in PDD's stock, with a buyer of 2,600 of the March 105-calls at an average price of $10.39 per contract, indicating a predicted gain of at least 20% by March.
August 30, 2023 | 2:10 pm
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POSITIVE IMPACT
PDD Holdings' strong Q2 results and the subsequent increase in options trading volume indicate a positive outlook for the stock.
PDD Holdings reported strong Q2 results, beating revenue consensus. This positive news, coupled with increased options trading volume, suggests that traders are expecting the stock to perform well in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100