Traders Anticipating Big Rally Ahead For Bed Bath & Beyond

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Bed Bath & Beyond Inc BBBY traded 7.8 times its average daily volume on Tuesday. “The flow is only about 65 million shares. The options volume represents about 3 times the flow,” he added.

Check out other stocks making moves in the premarket.

There were buyers of 100,000 of the January 2023 weekly 80-calls at an average price of $3.85 per contract, Khouw mentioned. Traders see a 306% upside in Bed Bath & Beyond’s shares by January expiration.

Also Read: If You Invested $1,000 In Walmart Stock At Its IPO, Here's How Much You'd Have Now

BBBY Price Action: Shares of Bed Bath & Beyond shares gained 29.06% to settle at $20.65 on Tuesday.

Photo: Courtesy of Mike Mozart on flickr

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Long IdeasOptionsSmall CapMarketsMediaTrading IdeasCNBCMichael KhouwOptimize Advisors
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!