Uber Technologies Attracts Big Bullish Bets From Options Traders

Uber Technologies, Inc. UBER shares closed lower on Thursday

On CNBC’s "Options Action,"  Mike Khouw of Optimize Advisors said Uber traded more than 2x its average daily volume, with calls outpacing puts by over two to one on Thursday.

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A risk reversal trade included traders buying the November 47.5 calls by selling the 37.5 puts. It means these traders could either get long at $37.50, when the stock is down around 16%, or at $47.50, which is a price that the stock touched earlier this week.

"I think this is probably a replacement for equity," he added.

Uber and Oracle announced a new offering called Collect and Receive, which connects retailers and consumers to enhance last mile delivery. The new offering is supported by Oracle's retail data store and cloud platform technologies. Retailers can link to Uber Direct through pre-integrated APIs, which enables them to rebalance inventory and gives customers more choices.

Price Action: Uber shares fell 4.2% to close at $44.60 on Thursday, but added 1.23% in Friday's premarket trading session.

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