Alibaba Gr Holding Option Alert: Jun 21 $85 Calls at the Ask: 250 @ $2.0 vs 29723 OI; Earnings 5/14 Before Open Ref=$78.25
Portfolio Pulse from Charles Gross
Alibaba Group Holding has seen significant options activity, with a notable transaction involving June 21 $85 call options, purchased at the ask price of $2.00 for a quantity of 250, against an open interest of 29,723. This activity comes ahead of Alibaba's earnings report, scheduled for May 14 before the market opens, with the reference stock price at $78.25.
May 02, 2024 | 2:26 pm
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POSITIVE IMPACT
Alibaba's upcoming earnings and the notable options activity could indicate investor optimism or a speculative play on post-earnings price movements.
The purchase of call options in significant volume ahead of earnings suggests that investors might be anticipating a positive earnings report from Alibaba, which could lead to an increase in its stock price in the short term. The specific choice of $85 calls indicates a belief that the stock will rise above this strike price by the expiration date, reflecting a bullish outlook.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90