Options Traders Expect Cannabis ETF Will Reach This Level By January Expiration

AdvisorShares Pure US Cannabis ETF MSOS rose sharply on Wednesday.

On CNBC’s "Options Action,"  Mike Khouw of Optimize Advisors said AdvisorShares Pure US Cannabis ETF traded about eight times its average daily options volume on Wednesday.

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Traders bought 1,950 of the January 6-calls at $1.17 and sold 3,900 of the January 10-calls at 42 cents, Khouw mentioned.

Traders see MSOS hitting the $10 level by January expiration.

Price Action: AdvisorShares Pure US Cannabis ETF jumped 21.2% to close at $5.88 on Wednesday.

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