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Benzinga
Benzinga
Business
Priya Nigam

Alibaba Rallies, Khouw Says Options Trades Are Betting Run Is 'Far From Over'

BABA (Organization) Alibaba Michael Khouw Alibaba Group Holding CNBC NYSE Optimize Advisors

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Alibaba Group Holding (NYSE:BABA) traded more than five times its average daily volume on Wednesday. Over a million contracts were traded, he added.

Check out other tech stocks making big moves in the premarket.

There was a buyer of 4,575 of the January 150 calls at $6.70 per contract on average, Khouw mentioned. “That’s risking a little over $3 million in premium on a bullish bet that Alibaba’s run is far from over,” he stated.

The trade sees shares of Alibaba climbing at least 30% by January expiration, Khouw added.

BABA Price Action: Shares of Alibaba jumped 14.67% to settle at $119.62 on Wednesday.

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