PDD Holdings Inc. PDD shares rose sharply on Tuesday following the release of second-quarter results.
On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said PDD Holdings traded about 5x its average daily options volume on Tuesday, with calls outpacing puts.
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There was a buyer of 2,600 of the March 105-calls at an average price of $10.39 per contract, Khouw mentioned.
Traders see PDD’s shares gaining at least 20% by March expiration.
PDD Holdings reported second-quarter FY23 revenue growth of 66% year-on-year to $7.21 billion, beating the consensus of $6.07 billion. Non-GAAP earnings per ADS of $1.44 beat the consensus of $1.01.
Price Action: PDD shares jumped 15.4% to close at $93.22 on Tuesday.
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