Uber Technologies Attracts Big Bullish Bets From Options Traders
Portfolio Pulse from Priya Nigam
Uber Technologies, Inc. (NYSE:UBER) saw increased activity from options traders, with calls outpacing puts by over two to one. A risk reversal trade involved traders buying the November 47.5 calls by selling the 37.5 puts. Uber and Oracle announced a new offering called Collect and Receive, which connects retailers and consumers to enhance last mile delivery. Uber shares fell 4.2% to close at $44.60 on Thursday, but added 1.23% in Friday's premarket trading session.
September 22, 2023 | 12:42 pm
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Increased options trading activity and the launch of a new service with Oracle could influence Uber's stock price. The stock fell 4.2% on Thursday, but rose 1.23% in premarket trading on Friday.
The increased options trading activity indicates a heightened interest in Uber's stock, which could lead to increased volatility. The launch of a new service with Oracle could potentially boost Uber's revenues, which would be a positive for the stock. However, the stock's recent price movements show a mixed picture, with a drop on Thursday followed by a rise in premarket trading on Friday.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100