Options Traders Expect Cannabis ETF Will Reach This Level By January Expiration
Portfolio Pulse from Lisa Levin
AdvisorShares Pure US Cannabis ETF (NYSE:MSOS) saw a sharp rise and traded about eight times its average daily options volume on Wednesday. Traders bought 1,950 of the January 6-calls at $1.17 and sold 3,900 of the January 10-calls at 42 cents. The market expects MSOS to reach the $10 level by January expiration.
August 31, 2023 | 12:28 pm
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POSITIVE IMPACT
Increased trading volume and bullish options activity suggest a positive short-term outlook for MSOS. Traders expect the ETF to reach $10 by January.
The sharp increase in trading volume and the bullish options activity (buying of calls) indicate a positive sentiment towards MSOS. The market expectation of the ETF reaching $10 by January further supports this positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100